China launches anti-dumping investigation into EU brandy

게시됨 2024년 1월 8일

Tridge 요약

China has initiated an anti-dumping investigation on European Union brandy after reducing tariffs on Australian wine, showing its willingness to use its economic power in disputes. Cognac, the biggest-selling imported spirit category in China, is the main target of the investigation. The investigation has affected companies like Rémy Cointreau, Pernod Ricard, and LVMH, with their shares dropping in value, and there is hope that the dispute can be resolved before tariff barriers are imposed.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Just as China and Australia are inching towards Beijing removing, or at least reducing, the tariffs of up to 218% it slapped on Australian wine two years ago, China has now begun an anti-dumping investigation into all brandy imported from the European Union. The measure is effectively targeted at Cognac and is being seen as a further example of China’s willingness to use its economic muscle in disputes, especially when it can affect spending on imported goods that have no direct impact on its own economic output. Customs data show that China imported US$1.57 billion worth of spirits from distilled grape wine in the 11 months to the end of November with France accounting for 99.8% of all EU brandy exports. Cognac is by far the biggest-selling imported spirit category in China because of its luxury cachet. In 2022 China came closer to eclipsing the United States as Cognac’s biggest export market which took 50% of the spirit’s global exports. Although the post-Covid revival in ...

출처: Thedrinkbusiness