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Trade War: China Warns Europe of Retaliation Over Business Restrictions; 3 Indian Firms Affected?
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CNBC Awaaz•30-09-2026, 12:29
Trade War: China Warns Europe of Retaliation Over Business Restrictions; 3 Indian Firms Affected?
- •China's Ministry of Commerce warned the European Union (EU) that it would respond firmly if measures are taken to restrict Chinese companies or products.
- •China states that imposing restrictions would severely damage mutual trust and disrupt ongoing negotiations aimed at resolving trade issues.
- •Europe seeks progress by October to reduce its record trade deficit with China, with pressure mounting around this deadline.
- •Noah Barkin of Rhodium Group reports Europe is considering measures to exclude China from the European market, potentially within 24 hours.
- •Indian companies like Tata Steel, JSW Steel, SAIL, and Bharat Forge could be affected, depending on China's response and Europe's specific restrictions.
Key Questions Answered
China's Ministry of Commerce warned the European Union that if measures are implemented to restrict Chinese companies or products, China will respond firmly to protect its interests.
EU Trade Commissioner Maroš Šefčovič stated that China must deliver concrete results and visible progress by October to help narrow Europe's record trade deficit.
European officials are considering measures and a joint proposal modeled after America's Section 301 trade mechanism, which could allow Brussels to exclude China from the European market.
