London CNN —European Union officials have raided the offices of a Chinese company as part of a probe into subsidies, exposing rising tensions between the bloc and one of its biggest trading partners.
The European Commission said Tuesday that it carried out “unannounced inspections” at the premises of a company making and selling security equipment in Europe, which it suspects may have benefited unduly from state subsidies.
“The commission has indications that the inspected company may have received foreign subsidies that could distort the (EU’s) internal market,” the EU’s executive body said in a statement on its website.
The China Chamber of Commerce to the EU said Wednesday that it had been informed that a Chinese company was the target of the investigation.
The Foreign Subsidies Regulation, which came into force last July, is aimed at addressing market distortions caused by subsidies from foreign governments and ensuring that EU companies are competing on a level playing field.
Persons:
“, ”, ” Ursula von der Leyen, Janet Yellen
Organizations:
London CNN — European Union, European Commission, China Chamber of Commerce, EU, CNN
Locations:
Europe, Poland, Netherlands, Romania, China, Puglia, Italy, United States, Beijing