China has introduced anti-dumping duties on brandy from European countries for a period of five years amid the ongoing escalation of diplomatic and trade tensions between the parties. This was reported on July 4 by Bloomberg.
It is specified that such a decision was made after the European Union countries imposed duties of up to 45% on Chinese-made electric vehicles.
“Duties of 27.3 to 34.9% will be introduced on European brandy supplies from July 5 <…>. 34 EU brandy producers will be entitled to an exemption from duties if they fulfill their price obligations,” the article says.
The statement from the Chinese Ministry of Commerce also noted that the duties were introduced due to the damage caused by dumping by European manufacturers.
That same day, Bloomberg reported that the U.S. had lifted some restrictions on the export of chip design software to China. Washington had promised to allow shipments of chip design software, as well as ethane and jet engines, to China if Beijing followed through on a promise to speed up approval for exports of critical minerals.
