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China Adds Tariffs to EU Brandy

China has retaliated against the European Union by imposing anti-dumping measures on EU brandy imports, specifically targeting French brands like Hennessy and Remy Martin. This move follows the EU's decision to increase tariffs on Chinese electric vehicles (EVs), escalating trade tensions between Beijing and Brussels. The Chinese Commerce Ministry's preliminary investigation found that EU brandy was being dumped in China at prices that could substantially damage its domestic brandy sector, leading to the requirement for security deposits from EU brandy importers starting October 11, ranging from 34.8% to 39.0% of the import value.

This retaliation marks a significant escalation in the trade dispute, with EU officials and French authorities condemning the measures as an abuse of trade defense mechanisms and vowing to challenge them at the World Trade Organization (WTO). 

The French cognac industry, which accounts for nearly all of China's brandy imports, expressed fears of catastrophic consequences, with market analysts predicting a significant drop in sales due to increased prices for consumers. The tit-for-tat trade actions highlight the growing economic friction between China and the EU, particularly in the wake of the EV tariff decisions by the EU.

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