China threatens countermeasures if EU adopts 'Made in Europe' plan

China warned European Union against adopting "Made in Europe" measures, which could cause harm to Chinese businesses. "If the EU...presses ahead...China will have no choice but to take countermeasures to firmly safeguard...interests of its enterprises," China's Commerce Ministry said. EU's "Industrial Accelerator Act" aims to help companies raise funds to meet minimum thresholds for EU-made parts.