China recently took a significant step in its trade relationship with the European Union by imposing anti-dumping measures on brandy imports from the EU. This decision, announced on Tuesday by the Chinese commerce ministry. It came as a surprise, especially since earlier talks had suggested that such tariffs might be avoided. From October 11 onwards, importers must provide a security deposit to Chinese customs when importing brandy from the EU. This development could impact both trade negotiations and the availability of European brandy in China.
This move is a reversal of China's earlier decision not to impose provisional tariffs on EU brandy. Just recently, the ministry had indicated that, although it found that EU brandy was being sold in China below market prices, it would refrain from imposing provisional anti-dumping measures. This decision was intended to provide some breathing room for both sides to continue their tense trade negotiations. However, the new measures indicate that the situation has changed, and the ongoing trade dispute remains unresolved.
The decision to enforce anti-dumping measures on EU brandy imports adds another layer of complexity to the already strained trade relations between China and the EU. The Chinese government has been seeking support from the 27-member EU bloc to reject a European Commission proposal that would impose additional tariffs on Chinese-made electric vehicles. With the vote expected soon, this new action on brandy imports could influence the outcome of the negotiations.
As of now, the anti-dumping probe on EU brandy imports is set to conclude by January 5, 2025. However, there is a possibility that this deadline could be extended, depending on how the ongoing trade talks progress. Both sides are under pressure to reach an agreement, and the outcome will likely have significant implications for the broader economic relationship between China and the EU.
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Learn about China's new anti-dumping measures on EU brandy imports and how this decision impacts trade relations between China and the EU.
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