Beijing warns of retaliation if Europe imposes curbs on Chinese businesses

China's Commerce Ministry said it would respond firmly if the EU introduces restrictions on Chinese businesses or products. This warning comes as Chinese automakers expand their presence in Europe, grabbing market share quickly.

Ford CEO Jim Farley cited Europe as a cautionary tale, warning the US to be careful about allowing Chinese automakers into the American market. He noted that for European countries, it's "too late" as Chinese imports have already taken significant market share. Farley stated that Ford will partner with Chinese companies when it is capital-efficient and in areas where the automaker lacks expertise, but also plans to compete with them directly.

Ford has faced criticism for partnering with Chinese firms on vehicle and battery technology, including a deal with China's Geely to jointly develop electric cars for the European market. The company's partnerships with Chinese firms, such as battery maker CATL, have raised concerns, with Transportation Secretary Sean Duffy expressing worry that Ford's deals with Chinese companies leave the automaker "intertwining its future with Chinese state-backed enterprises."

Brief written by urgent.news from CNBC World, CNBC, The Business Times - Companies & Markets, Investing.com — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.