China Imposes Five-Year Tariffs on EU Brandy Imports
(MENAFN) China announced on Friday that it will enforce anti-dumping tariffs and pricing agreements on imported brandy from the European Union for a duration of five years, starting Saturday.
This move marks the conclusion of an anti-dumping probe launched by the Chinese government.
According to the final verdict issued by the Chinese Ministry of Commerce, "The domestic-related brandy industry is threatened with substantial damage, and there is a causal relationship between dumping and the threat of substantial damage."
The ministry determined that the dumping margin for the EU-originated brandy ranges between 27.7 percent and 34.9 percent.
This trade measure arrives at a sensitive moment, coinciding with recent diplomatic engagements between China and the European Union.
Just days earlier, a high-level strategic dialogue took place in Brussels, featuring China’s Foreign Minister Wang Yi and EU foreign policy chief Kaja Kallas. Wang’s European tour includes visits to Belgium, Germany, and France.
These discussions are part of the lead-up to the China-EU leaders’ summit scheduled for later this month.
A news agency reported that Beijing is lobbying to shorten the originally planned two-day summit to a single day.
President Xi Jinping and Premier Li Qiang are set to meet with EU Commission President Ursula Von der Leyen and EU Council President Antonio Costa in Beijing on July 24.
Following this, the two European leaders were expected to attend a business forum in Hefei, located in central China.
However, according to the report, China prefers for all summit activities to be limited to a single day in Beijing.
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