By
Reuters
Revealed
December 26, 2024
China’s commerce ministry mentioned on Wednesday it might prolong its anti-dumping investigation into brandy originating from the European Union by three months, lower than the complete extension allowed beneath its earlier steerage.
Reuters
The probe, which was launched on Jan. 5 and attributable to be accomplished in a 12 months, will probably be prolonged to April 5 because of the “complexity” of the investigation, the ministry mentioned in a short assertion, with out elaborating.
The ministry beforehand mentioned the probe may very well be prolonged by six months beneath particular circumstances.
Preliminary findings from the probe have proven dumping of EU brandy threatens to break China’s sector, the ministry mentioned in October because it imposed momentary measures on EU brandy imports, hitting French manufacturers together with Hennessy and Remy Martin.The probe was broadly seen as the end result of France’s assist of EU tariffs on China-made electrical autos. French President Emmanuel Macron beforehand referred to as the probe “pure retaliation”.
The Chinese language measures require China’s importers to pay safety deposits of almost 40% in the event that they want to import brandy from the bloc, making it extra pricey upfront to ship brandy from the EU.
France’s commerce ministry beforehand referred to as the Chinese language measures “incomprehensible”, and that that they had violated free commerce.Final month, the EU Fee mentioned it had formally introduced the provisional Chinese language anti-dumping measures to the World Commerce Group.
French brandy shipments to China reached $1.7 billion final 12 months and accounted for 99% of the nation’s imports of the spirit.
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