Energy News
FARM NEWS
China slaps provisional tariffs on EU brandy imports
China slaps provisional tariffs on EU brandy imports
By Isabel Kua and Matthew Walsh
Beijing (AFP) Oct 8, 2024

China said Tuesday it would impose provisional tariffs on brandy imported from the European Union, marking the latest salvo in an escalating trade row between Beijing and Brussels.

The two are major economic partners but have butted heads in recent months over Beijing's generous subsidies for its domestic industries.

Brussels argues that the support undermines the principle of free competition and helped drive down the prices of Chinese exports, undercutting European competitors.

Beijing has denied the claims and accuses Brussels of protectionism.

China launched an investigation this year into EU brandy, months after the bloc undertook a probe into Chinese electric vehicle subsidies.

Beijing said in August it would not impose provisional tariffs on brandy makers, even though it had found evidence of dumping, but did not rule out subsequent measures.

From Friday, operators will have to pay a "corresponding guarantee" to Chinese customs when importing EU brandy into the country, the commerce ministry in Beijing said.

It said the amount would be based on calculations involving prices approved by customs, as well as import taxes.

The investigation had "preliminarily determined that imports of certain brandy originating from the European Union were being dumped, threatening substantial damage to the domestic brandy industry", the ministry said.

It said the probe also established "a causal relationship between the dumping and the threat of substantial damage".

The ministry released a list detailing the rates each company would expect to pay, ranging from 30.6 percent for cognac house Martell to 39 percent for Jas Hennessy and 38.1 percent for Remy Martin.

Shares in French spirits giants Remy Cointreau and Pernod Ricard fell sharply in Paris on Tuesday following the news.

- Trading blows -

The European Union said Tuesday it would seek to challenge the new measures announced by Beijing.

"The European Commission will challenge, at the (World Trade Organization), the announced imposition of provisional antidumping measures by China on imports of brandy from the EU," the commission's trade spokesperson Olof Gill said.

"We believe that these measures are unfounded, and we are determined to defend EU industry against the abuse of trade defence instruments," Gill added in a statement.

France's cognac makers pleaded Tuesday for an end to an escalating EU-China trade spat, warning that the latest measures threaten the sector.

"We appeal to our government to finally initiate the necessary steps to put an end to this escalation, of which we are the hostages," the National Interprofessional Bureau of Cognac (BNIC) said in a statement co-signed by other spirits makers and exporters.

The BNIC said it had not yet received details of the new rules but the announcement sent an "additional signal" that China intended to implement further taxes.

"We will already have to pay money" for the guarantee given that the biggest cognac exporters already have their own import subsidiaries in China, said Raphael Delpech, director general of the BNIC.

Later Tuesday, the commission said it would explore "all possibilities to offer appropriate support to EU producers" that face a negative impact.

"We have tools at our disposal to address injurious impacts on EU producers from situations of market disturbance, or threat thereof," it said in a statement.

- Extra tariffs -

China imported more brandy than any other spirit in 2022, most of it from France, according to a report by research group Daxue Consulting.

French President Emmanuel Macron thanked his Chinese counterpart Xi Jinping in May for not imposing customs duties on French cognac, presenting him with bottles of the expensive drink.

However, the European Union gave a definitive green light last week to imposing extra tariffs of up to 35.3 percent on EVs imported from China, saying Beijing has unfairly subsidised its domestic industry to the detriment of European automakers.

Brussels is also investigating Chinese subsidies for solar panels and wind turbines.

Beijing has in turn launched a probe into EU subsidies of some dairy and pork products imported into China.

Asked about the brandy measures and those probes Tuesday, Beijing's commerce ministry said the investigations were being conducted in "accordance with the law".

A spokesperson reiterated that Beijing was mulling "measures such as raising tariffs on imported large-displacement fuel vehicles", referring to cars with larger engines that typically produce more emissions.

"China will take all necessary measures to firmly safeguard the legitimate rights and interests of Chinese industries and enterprises," the spokesperson said.

Related Links
Farming Today - Suppliers and Technology

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
FARM NEWS
Sardinia's sheep farmers battle bluetongue as climate warms
Arbus, Italy (AFP) Oct 7, 2024
The sheep huddle together, bleeding from the nose, aborting lambs or suffocating on saliva as they succumb to bluetongue, a virus sweeping through flocks on the Italian island of Sardinia. Some 20,000 sheep have died so far this year on the island, which is home to nearly half Italy's flock and plays an important role in the production of famed Italian cheeses such as Pecorino. It is another blow for farmers in a region already battered by a drought aggravated by man-made climate change - whic ... read more

FARM NEWS
American Meteorological Society offers free access to Weather Band resources

Hydrosat secures new NOAA grant to advance climate monitoring efforts

Lightning storms unleash high-energy electrons into space

First MetOp Second-Generation Satellite Completed with Sibling Undergoing Tests

FARM NEWS
LEO satellites hold the key to resilient, interference-free navigation

China launches two more satellites for Beidou navigation system

SpaceX launches European Galileo satellites to medium Earth orbit

OneWeb Technologies unveils Astra PNT Solution for GPS-Denied Environments

FARM NEWS
Indonesia biomass drive threatens key forests and orangutans

Extensive reforestation can help curb global warming

From Bolivia to Indonesia, deforestation continues apace

Forests in New England may store more carbon than previously estimated

FARM NEWS
New process converts plant waste into sustainable jet fuel

Electrochemical cell converts captured carbon to green fuel with high efficiency

Using sunlight to recycle harmful gases into valuable products

New study highlights improved ethanol production method using CO2 and Nanocatalysts

FARM NEWS
Solar-powered desalination system requires no extra batteries

Streamlined perovskite solar cells offer path to cheaper, more efficient energy

UK announces new investment in green energy projects

The ZEUS Project to harness solar energy in space with nanowire technology

FARM NEWS
Government action needed for world to meet renewables goal: IEA

On US coast, wind power foes embrace 'Save the Whales' argument

Renewables revolt in Sardinia, Italy's coal-fired island

UK campaigners in green energy standoff reject 'nimby' label

FARM NEWS
S. Africa offers a lesson on how not to shut down a coal plant

Can carbon credits help close coal plants?

Britain's last coal-fired power station closes

Australia coal mine extensions slammed as a 'betrayal'

FARM NEWS
Artist Marina Abramovic hopes first China show offers tech respite

Senior UK judge becomes fifth to leave top Hong Kong court

China's 'red collectors' cherish bygone Maoist era

China's slowdown highlights economic inequality in Shanghai

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.