Retaliatory taxes on EU wines more than Chinese

Published 2024년 5월 29일

Tridge summary

The article highlights the escalating trade tensions between the European Union and China, with a focus on China's potential countermeasures to European anti-dumping procedures targeting Chinese subsidies for electric car, solar panel, and wind turbine production. These tensions could negatively impact the French wine industry, as there are concerns about possible duties on European wines exported to China, which is France's eighth largest export market by volume and ninth by value. The article also mentions the broader context of China's threats of retaliation, potentially targeting food, wine, and airplanes, as part of a broader trade dispute with the EU and ongoing tensions with the US.

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

Original content

As European procedures currently target Chinese subsidies for electric car, solar panel and wind turbine production, “The Chinese authorities have readied ample countermeasures”, claimed the China Chamber of Commerce to the EU on Twitter (X), relaying information published by the news app Jinri Toutiao. European brandies including France’s Cognac and Armagnac appear to have exited the turbulence of an anti-dumping enquiry but now wines seem to be caught in the crossfire as tensions rise between Brussels and Beijing. Although there has been no official announcement by the Chinese government, publications by official media and affairs representatives point to risks of an escalation of the trade war between the European Union and the People’s Republic of China. In this game of diplomatic bluff, inevitably the stakes have risen on either side: “China is implying there will be retaliation as the trade dispute with Europe worsens”, summed up Bloomberg, claiming that “food, wine and ...

Source: WTOCenter