China’s Retaliation: Medical Device Import Restrictions

In a significant development in international trade, China’s finance ministry announced new restrictions on government procurement of medical devices from the European Union, with the threshold set at over 45 million yuan ($6.3 million) per purchase. This move is seen as retaliation for a series of trade measures enacted by the EU. The recent escalation in trade tensions between Beijing and Brussels began when the European Union imposed tariffs on China-manufactured electric vehicles. In response, China recently levied duties on brandy imported from the EU. These actions reflect a growing trade rift between the two major economies. The imposition of…