China imposes anti-dumping measures on spirits from EU

China's move will affect imported spirits from the EU, including French brands such as Hennessy and Remy Martin - Screenshot from RTE

On October 8, China's Ministry of Commerce announced it would implement "provisional anti-dumping measures" on imported brandy from the European Union (EU), amid preliminary findings from Beijing indicating 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 originating from the EU.

This amount will be based on calculations involving customs-approved prices as well as import duties.

On August 29, China's Ministry of Commerce stated that spirits from the EU are being dumped, posing a significant threat to China's domestic spirits industry.

According to AFP, China and the EU are major economic partners, but have disagreed in recent months over China's massive subsidies for domestic industries.

The EU argues that such support undermines the principle of free competition and contributes to lower prices for Chinese exports, weakening competitors in Europe.

Meanwhile, Beijing has rejected the accusations and accused the EU of protectionism.

This year, China launched an investigation into EU spirits, months after the bloc opened an anti-subsidy investigation into Chinese electric vehicles.

On October 8th, the EU announced it would seek to oppose the new measures announced by Beijing. These measures affect imported spirits from the EU, including French brands such as Hennessy and Remy Martin.

"The European Commission will object at the World Trade Organization (WTO) to China's application of provisional anti-dumping measures on spirits imported from the EU," said Olof Gill, the European Commission's trade spokesperson.

Source: https://tuoitre.vn/trung-quoc-ap-bien-phap-chong-ban-pha-gia-voi-ruou-manh-tu-eu-20241008193730041.htm