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Europe on verge of trade war with China

(London Telegraph) Europe is gearing up for a fresh trade war with China with plans to impose a levy on billions of pounds worth of imports of cheap solar panels.

The European Commission has proposed a tough 47pc “anti-dumping” tariff to penalize the imports, it emerged on Wednesday.

The move would benefit European manufacturers, who allege their Chinese rivals – whose panels are as much as 45pc cheaper – are unfairly subsidized by Beijing.