European firms negate trade war risks

BEIJING: European companies in China have been able to minimize the effect from the tariff war between Beijing and Washington, although some are considering relocating their businesses, the European Union (EU) Chamber of Commerce said on Monday.

The world’s two biggest economies have been entangled in a lingering trade war for over a year, which has weighed on the global economy and resulted in hundreds of billions of dollars in punitive tariffs slapped on two-way trade.