{"text":[[{"start":8.55,"text":"Beijing has launched an anti-dumping investigation into European exports of a chemical used for dyes and pharmaceuticals as tensions rise over China’s massive trade surplus with the bloc."}],[{"start":21.1,"text":"The commerce ministry in Beijing said on Saturday that it had started an investigation into p-nitrotoluene, which is also used in pesticide and pigment production, after a complaint from Chinese industry."}],[{"start":34.900000000000006,"text":"The investigation marks the latest tit-for-tat measure between Brussels and Beijing after trade tensions flared again in recent weeks."}],[{"start":42.85000000000001,"text":"The EU opened three anti-dumping investigations into chemicals from China last week. It also began consulting on a new diversification tool that would seek to reduce imports from China."}],[{"start":53.400000000000006,"text":"It comes just ahead of crunch talks between EU trade commissioner Maroš Šefčovič and his Chinese counterpart, commerce minister Wang Wentao, in Beijing this month. "}],[{"start":64.2,"text":"The EU in June set an October deadline for progress in reducing its trade deficit with China, which is now running at €1bn a day."}],[{"start":73.35000000000001,"text":"Brussels has warned that without any action it could resort to new trade measures, which are set to be debated at a summit of EU leaders at the end of October."}],[{"start":82.55000000000001,"text":"The European Commission declined to comment."}],[{"start":85.00000000000001,"text":"The FT reported last month that among the initiatives proposed, the EU has asked China to restrict its exports of plug-in hybrid vehicles voluntarily, as well as restrain exports of some chemicals."}],[{"start":96.30000000000001,"text":"According to the commerce ministry, from 2022 to 2025 European exports of p-nitrotoluene were at high levels while prices declined by 60 per cent, meeting the grounds for an investigation under both Chinese and World Trade Organization rules."}],[{"start":113.80000000000001,"text":"The Chinese move also follows a warning from Brussels to UK Prime Minister Andy Burnham that Britain would need to raise tariffs on Chinese cars and align more closely with EU trade policy if it wants to avoid “made in Europe” barriers on exports to the bloc."}],[{"start":129,"text":"EU officials have argued that Chinese controls on rare earth exports, introduced last year as part of China’s retaliation against US President Donald Trump, have unfairly hit European companies. "}],[{"start":140.2,"text":"Over recent years, the EU has targeted Chinese industrial products with higher tariffs while China has sought to influence EU member governments by hitting agricultural interests, including dairy products, pork and cognac."}],[{"start":160.6,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1791025670_8793.mp3"}