Beijing warns of retaliation if Europe imposes curbs on Chinese businesses

BEIJING — China's commerce ministry has sent a strong warning to the European Union ahead of expected high-level talks in Beijing next week. China will "respond firmly" if the EU introduces restrictions on Chinese businesses or products, the Chinese commerce ministry said in a statement late Tuesday, according to a CNBC translation of Mandarin. The ministry said such actions, while China and the EU are engaged in trade talks, would "seriously undermine mutual trust" and "disrupt" the negotiations. China and the EU have been engaged in trade talks this summer as Europe wants to reduce its record trade deficit with China by October.