China says to impose anti-dumping measures on EU brandy
Kyiv • UNN
China has announced temporary anti-dumping measures on imports of brandy from the EU in the form of a cash deposit. This deepens the trade confrontation after the EU imposed duties on Chinese electric cars.
China on Monday said it would impose "temporary anti-dumping measures" on imports of brandy from the European Union, deepening the trade standoff between Beijing and Brussels after similar measures last month, UNN reports citing AFP.
Details
Last month, China announced temporary duties on imports of brandy from the EU, saying that the alleged "dumping" threatens "significant losses" to the domestic industry.
And Beijing's Ministry of Commerce said in a statement on Monday that the authorities "decided to impose temporary anti-dumping measures in the form of a cash deposit or a letter of guarantee" on European brandy products.
The measures, which are based on calculations that include prices approved by customs as well as import duties, follow a similar statement by the ministry on October 8.
It was not immediately clear whether these measures, which come into effect on Friday, are new or an expansion of existing ones.
France, Europe's leading brandy producer, described the measures announced last month as political, designed to put pressure on the EU after it imposed high duties on Chinese electric cars over allegations of unfair competition.
The "additional announcement" of Monday did not say when the last temporary measures would expire.
In January, China launched an investigation into brandy imported from the EU after the bloc investigated Chinese subsidies for electric vehicles.
Last month, the EU decided to impose additional duties on Chinese-made electric vehicles after an anti-subsidy investigation concluded that Beijing's government subsidies unfairly undermine European automakers.
China imported more brandy than any other spirits in 2022, with the majority of imports coming from France, according to a report by research group Daxue Consulting.
French cognac producers begged Paris to end the quarrel, calling themselves "hostages.
French Foreign Trade Minister Sophie Primas said this month that Paris is ready to "take all possible technical and legal measures" in response to the duties, after meeting with her Chinese counterpart.
But she also said that, in her opinion, the window for negotiations with Beijing on tariffs on European branded goods is open.
The second phase of consultations on anti-dumping measures between the EU and China has recently started.
In addition to the temporary duties on the brand, Beijing has also launched anti-dumping investigations into certain European imports of pork and dairy products.
Brussels is also investigating Chinese subsidies for solar panels and wind turbines.
China sues EU over new duties on electric vehiclesNov 4 2024, 02:39 PM • 24243 views
