EU-China trade relations escalate - The next product at the center of tariffs is alcoholic beverages!
The EU Commission said it had formally brought provisional anti-dumping measures imposed by China on EU cognac imports to the World Trade Organization, the latest development amid trade tensions between the two blocs.
France's trade ministry said last month it would work with the European Commission to challenge Beijing's tariffs, which came after the European Union voted for tariffs on electric vehicles made in China.
China's Ministry of Commerce said it had received an EU consultation request and would handle the matter under WTO rules.
"The provisional anti-dumping measures were implemented based on Chinese law, at the request of domestic industries, after a fair and impartial investigation, and are legitimate trade remedies in full compliance with WTO rules," the ministry announced.
France, whose producers including LVMH, Remy Cointreau and PernodRicard export large quantities of spirits to the Asian country, was seen as a prime target for brandy tariffs after Paris openly backed the Commission's efforts to protect the domestic EV market.
French President Emmanuel Macron previously called China's investigation "pure revenge".
China is the second largest export market for cognac after the United States and the industry's most profitable market. French shipments to China reached $1.7 billion last year and accounted for 99% of liquor imports from China.
Meanwhile, Hennessy is exploring options to bottle the cognac in China, which prompted hundreds of workers at its factory in southwestern France to go on strike last week, while Remy said it would raise prices in China and may cut costs. in areas such as advertising production and spending.
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