The measure will begin to govern on July 5 and will affect, above all, the Coñac manufacturers of France that export to the Asian market.
China He decided to impose tariffs up to 34.9% For a period of five years to the brandy imported from the European Unionas reported on Friday the Ministry of Commerce of the Asian country through a statement.
These tariffs, which will come into force As of July 5they arrive after an anti -dumping investigation initiated last year on the European brandy, which is mainly composed of France of France.
However, some companies that had previously agreed minimal price commitments, such as Remy Martin by Remy Cintreau and Martell & CO backed by Pernod Ricard, will not face the highest rate unless these commitments are breached, said the Ministry of Commerce.
According to data from the Bureau National Interprofessionnel du cognac, exports of this drink To China – an important market for drinking— They fell up to 70%.
Commercial dispute between China and the European Union
Coñac manufacturers in France said they were trapped in the middle of a prolonged Commercial dispute between China and the European Union (EU) for the levies on electric vehicles manufactured in the Asian giant.
The EU accused Beijing of unjustly strengthening its electric vehicle industry with subsidies and has imposed tariffs on these cars manufactured in China.
In June, Reuters reported that Cognac’s French groups had reached a provisional agreement that established minimal import prices for the Chinese market, although Fuentes told the news agency that Beijing will only end the pact if progress is made in disagreement on electric vehicles.
Together with China’s pressures, France’s companies have also been affected by the fall of sales in the United States, the largest market in the world for this volume drink. A combination of inflation and broad economic uncertainty has weighed on the demand of Coñac in the country.
Source: Ambito
