China tells Europe not to ignore its new trade status

April 14, 2015 4:24 PM

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BRUSSELS, April 14 (Reuters) - China's top diplomat in Brussels warned the European Union on Tuesday not to disregard changes to global trade rules set to favour Beijing and which European companies fear will open the bloc to a flood of cheap Chinese goods.

World trading powers including Europe are in a bind over how to interpret a World Trade Organization protocol that treats China as a more market-based economy from late 2016 -- a status that will make it harder for the EU to protect local industry.

Also read: Donald Trump Threatens New Tariffs if China Retaliates

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