New round of trade war: China imposes duties on European brandy

Starting this week, China will introduce temporary anti-dumping measures against brandy imported from the European Union. 

The Chinese Ministry of Commerce announced that starting Friday, Chinese customs authorities will start collecting security deposits from companies supplying brandy from the EU. The deposit amount will be from 30.6% to 39% of the cost of the product.

Earlier, at the end of August, China refused to introduce anti-dumping measures, despite the statement that European manufacturers sold brandy with similar margins. The authorities noted that the Chinese brandy industry has been severely affected and is under threat.

This decision followed the introduction by the European Union of 35% duties on Chinese electric vehicles, which caused a negative reaction from China, which called the EU's actions protectionist and unjustified. An anti-dumping investigation against European brandy was launched by China in January.