China to impose tariffs on EU brandy in response to EU protectionism

Published 2024년 10월 8일

Tridge summary

China is set to implement anti-dumping duties on EU brandy from October 11, with additional duties of 30.6-39% due to the EU's tariffs on Chinese electric cars. This follows an investigation that found EU alcohol was sold at lower prices, threatening Chinese brandy producers. Meanwhile, the EU showed divided support for the European Commission's duties on Chinese electric cars, with some countries opposing and others abstaining. China has criticized these duties as protectionist.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

China will introduce anti-dumping measures against brandy from the EU countries from October 11 in response to the EU's tariffs on electric cars from China. According to the Chinese Ministry of Commerce, European suppliers will have to pay an additional "guarantee amount" - a de facto duty - of 30.6-39% to sell alcoholic beverages on the Chinese market. Beijing launched an anti-dumping investigation into EU brandy in January 2024. In late August, Chinese authorities concluded that European alcohol was sold in China at reduced prices. This "threatened significant damage" to Chinese brandy producers, the ministry said. On October 4, EU countries supported the European Commission's decision to impose import duties on Chinese electric cars. At the same time, according to sources from the AFP agency, only 10 of the 27 EU countries voted for the European Commission's initiative, including France and Italy. Germany and four other countries opposed it, fearing a full-scale trade war with ...

Source: Kvedomosti