China imposes provisional tariffs on European brandy after EU approves tariffs on Chinese EVs
The tit-for-tat move potentially gives Chinese negotiators leverage in talks with the EU on reducing or eliminating the tariffs of up to 35.3 per cent on Chinese EVs, which would take effect at the end of this month.
Chinese EV manufacturer BYD unveils its electric car (AP)
BEIJING: Chinese drinkers may pay more for Remy Martin and other European brandies after the government announced provisional tariffs of 30.6 per cent to 39 per cent on Tuesday, four days after a majority of European Union countries approved duties on electric vehicles made in China.
The tit-for-tat move potentially gives Chinese negotiators leverage in talks with the EU on reducing or eliminating the tariffs of up to 35.3 per cent on Chinese EVs, which would take effect at the end of this month.
The brandy tariffs are provisional and require importers to make a deposit with the Chinese customs agency for the amount of the tariff, starting Friday.
The announcement follows 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.