Brandy Battle: China's Tariff Retaliation Against European Brandy

China has announced provisional tariffs on European brandies, including Remy Martin, ranging from 30.6% to 39%. This move follows EU-imposed duties on Chinese electric vehicles. The tariffs, requiring importers' deposits, aim to counter alleged dumping by European producers that affects China's domestic market.

In a recent development, Chinese drinkers might soon face higher prices for European brandies such as Remy Martin. This price increase comes in light of China's announcement on provisional tariffs of 30.6% to 39%.

The announcement was made on Tuesday, just days after the European Union countries imposed duties on Chinese electric vehicles. This tit-for-tat measure by China could potentially provide it with negotiating power in future discussions with the EU.

According to the Chinese Commerce Ministry, European brandy is being unfairly dumped into the Chinese market, threatening local producers with substantial damage. As a result, importers are required to deposit tariff amounts with the Chinese customs agency starting Friday.

(With inputs from agencies.)