Chinese bourses saw extended selling after the EU unveiled steep tariffs of between 17% to 30% on the import of Chinese electric vehicles. The EU trailed the U.S. in imposing tariffs on Chinas fast-growing EV sector. But unlike the U.S., the EU does represent a major market for Chinese EV makers. The tariffs ramped up concerns that the EU and the U.S. could impose more restrictions on Chinese imports, while Beijing could also announce retaliatory measures, denting relations between the worlds largest economies.
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