Week That Started With WTO Warning Ended With Trade Battle (1)

The warning from the World Trade Organization in Geneva early this week was unambiguous: A global economy split into rival trading factions would reduce real incomes 5% — maybe double that amount in poor countries.

The next day, the European Union launched what some of the 27-nation bloc’s most well-known industries — ranging from Airbus SE to cosmetic producers and wine makers — worry could land them on the punishing end of a trade war with China.

Read more: Europe Fires First Salvo at China With Probe of EV Subsidies

Since the European Commission’s announcement Wednesday of a new anti-subsidy ...