HAIKOU, CHINA - DECEMBER 17: People acquisition brandies during the 26th China (Hainan) International Winter Trade Fair for Tropical Agricultural Products astatine Hainan International Convention And Exhibition Center connected December 17, 2023 successful Haikou, Hainan Province of China.
Meng Zhongde | Visual China Group | Getty Images
The EU Commission said connected Monday it had formally brought the provisional anti-dumping measures imposed by China connected imports of EU brandy to the World Trade Organization, the latest improvement amid commercialized tensions betwixt the 2 blocs.
France's commercialized ministry said past period it would enactment with the European Commission to situation Beijing's tariffs, which came aft the European Union voted for duties connected Chinese-made electrical vehicles.
China's commerce ministry said it had received an EU consultation petition and would grip the substance according to WTO rules.
"The provisional anti-dumping measures were implemented based connected Chinese law, astatine the petition of home industries, aft a just and impartial investigation, and are morganatic commercialized remedies afloat successful enactment with WTO rules," the ministry said.
France, whose producers including LVMH, Remy Cointreau and PernodRicard, export immense amounts of spirits to the Asian country, was seen arsenic the main targets of the brandy tariffs pursuing Paris's outspoken enactment of the Commission's efforts to support the home EV market.
French President Emmanuel Macron antecedently called China's brandy probe "pure retaliation".
China is the second-largest export marketplace for cognac aft the United States and the industry's astir profitable. French brandy shipments to China reached $1.7 cardinal past twelvemonth and made up 99% of China's imports of the drink.
Meanwhile, Hennessy is exploring options to vessel cognac successful China, which prompted hundreds of workers astatine its works successful southwestern France to spell connected onslaught past week, portion Remy said it would rise prices successful China and could chopped costs successful areas similar manufacturing and advertisement spending.
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