China's move will affect spirits imported from the EU, including French brands such as Hennessy and Remy Martin - RTE screenshot
On October 8, China's Ministry of Commerce announced that the country will apply "provisional anti-dumping measures" on brandy imported from the European Union (EU), amid preliminary findings from Beijing showing that the product is being dumped on the market, according to the Global Times .
Starting Friday (October 11), importers will have to submit a "corresponding guarantee" to Chinese customs when importing spirits products originating from the EU.
This amount will be based on calculations involving customs approved prices as well as import duties.
China's Ministry of Commerce said on August 29 that spirits from the EU were being dumped, posing a significant threat to China's domestic spirits industry.
China and the EU are major economic partners, but have been at odds in recent months over China's massive subsidies to domestic industries, according to AFP.
The EU argues that such support undermines the principle of free competition and contributes to lower prices for Chinese exports, undermining European competitors.
Meanwhile, Beijing has rejected the allegations and accused the EU of trade protectionism.
This year, China launched an investigation into EU spirits, months after the bloc launched an anti-subsidy investigation into Chinese electric vehicles.
The EU said on October 8 it would seek to counter new measures announced by Beijing that affect imports of spirits from the EU, including French brands such as Hennessy and Remy Martin.
"The European Commission will protest at the World Trade Organization (WTO) against China's application of provisional anti-dumping measures on imports of spirits from the EU," said European Commission (EC) trade spokesman Olof Gill.
Source: https://tuoitre.vn/trung-quoc-ap-bien-phap-chong-ban-pha-gia-voi-ruou-manh-tu-eu-20241008193730041.htm
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