The action against European brandy exporters comes after the EU decided last week to impose tariffs of as high as 45% on imports of Chinese electric vehicles for five years. Most of China’s imports of the liquor come from France, which voted for the tariffs on Chinese cars.
China imposed a levy on brandy from the European Union, escalating a trade dispute days after the bloc’s decision to boost tariffs on Chinese electric vehicles.
Importers will have to pay a deposit of as much as 39% of the value of brandy sourced from the EU effective Oct 11, China’s Ministry of Commerce said in a statement published on its website Tuesday. The document specifically mentioned European spirits makers controlled by Remy Cointreau and Pernod Ricard, among others.
