China Threatens 25% Car Tariff Against US, EU Moves

Beijing is still mulling its expected retaliation in the wake of last week's Biden administration rollout of steep tariff increases on a series of Chinese tech imports, importantly including computer chips, EV batteries and medical technology products. Wednesday saw shares of European luxury automakers such as BMW, Mercedes-Benz, Tata Motors (Jaguar Land Rover), and Volkswagen Group (Audi) all finish lower, in the aftermath of a threatening and ominous Chinese state-run Global Times article which argued China should "consider raising…