US, Europe Wage War on China’s Lavish Subsidies, Cheap Goods

At the G7 summit in Japan last year, the United States and Europe composed a new playbook to counter China’s economic might, trade intimidation, and government subsidies for green technology. A year later, the world’s wealthiest economies could follow this blueprint and employ various measures, be it anti-dumping strategies or import tariffs. The White House has been voicing concerns that President Joe Biden’s Made in America revival is threatened by a flood of cheap Chinese products, from heavy metals to electric vehicles. The Chinese government has subsidized various industries for years, allowing domestic firms to produce cheaper goods....