Chinese authorities have imposed provisional tariffs of between 30.6% and 39% on European brandies, including popular brands like Remy Martin and Hennessy. The move follows a Commerce Ministry investigation alleging that European brandy was being dumped in China, harming domestic producers.
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The announcement followed a preliminary finding by China's Commerce Ministry in late August that European brandy was being dumped in China, threatening “substantial damage” to domestic producers.The brandy probe mainly targeted French makers of Cognac and similar spirits such as Armagnac. France has supported the investigation into Chinese-made EVs, while Germany, whose automakers fear retaliation in the Chinese market, has opposed it.
The provisional tariffs vary by brand, similar to the EU duties on electric cars made in China. For example, Martell products face a 30.6% tariff versus 38.1% for Remy Martin and 39% for Hennessey. The tariffs are being imposed on dozens of companies, including some Spanish makers.Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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