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HAIKOU, CHINA - DECEMBER 17: People purchase brandies during the 26th China (Hainan) International Winter Trade Fair for Tropical Agricultural Products at Hainan International Convention And Exhibition Center on December 17, 2023 in Haikou, Hainan Province of China.
Meng Zhongde | Visual China Group | Getty Images
China will start to impose provisional anti-dumping measures on brandy products imported from the European Union this week, according to a notice from the Ministry of Commerce on Tuesday.
Chinese customs officials will collect security deposits from companies that sell brandy originated from the bloc beginning this Friday. The deposit amount would be between 30.6% to 39% of the total value, the notice said.
The decision reversed a preliminary ruling in late August, when China said it would not impose any anti-dumping measures, despite concluding that European distillers had been selling brandy in China at a 30.6% to 39% margin.
"The relevant brandy industry within China has been substantially damaged or threatened," the statement read.
Tuesday's move also came days after the European Union pressed ahead in adopting definitive tariffs of up to 45% on China-made electric vehicles last Friday. The additional tariff, which could be as high as 35%, would come on top of the existing 10% rate.
China is "strongly dissatisfied" with the EU's adoption of the anti-subsidy duties on Chinese electric vehicles, a spokesperson for the Chinese Ministry of Commerce said in a statement on Friday, calling it a protectionist act that's "unfair, non-compliant and unreasonable."
China launched the anti-dumping investigation on brandy imported from European Union in January.
