China will introduce temporary anti-dumping measures against EU brandy from October 11. The Chinese Ministry of Commerce said European suppliers will now have to pay between 30.6% and 39% of the cost of products for their sale in the country.
Author:
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At the end of August, Chinese authorities discovered that strong drinks from Europe are sold cheaper in China than in EU countries, leading to unfair competition with local producers, the ministry said.
Beijing made this decision after EU countries voted to increase tariffs to 45% on the import of electric vehicles from China. The rates are supposed to be in effect for five years.
During the investigation, EU authorities discovered that China was unfairly subsidizing its industry. China rejected the charge and threatened to impose retaliatory tariffs on European dairy products, brandy, pork and cars.
France’s Trade Ministry said China’s measures were “incomprehensible” and violated free trade, and said it would work with the European Commission to challenge the measures at the World Trade Organization.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
