China puts provisional tariffs on European brandy after EU okays duties on Chinese EVs


China puts provisional tariffs on European brandy after EU okays duties on Chinese EVs

Updated 12:08 PM GMT+5, October 8, 2024 BEIJING (AP) — Chinese drinkers may pay more for Remy Martin and other European brandies after the government announced provisional tariffs of 30.6% to 39% on Tuesday, four days after a majority of European Union countries approved duties on electric vehicles made in China. The tit-for-tat move potentially gives Chinese negotiators leverage in talks with the EU on reducing or eliminating the tariffs of up to 35.3% on Chinese EVs, which would take effect at the end of this month. The brandy tariffs are provisional and require importers to make a deposit with the Chinese customs agency for the amount of the tariff, starting Friday. The announcement follows a preliminary finding by China’s Commerce Ministry in late August that European brandy was being dumped in China, threatening “substantial damage” to domestic producers.