China Imposes Tariffs On European Brandy Imports

European union EU flags fly outside the European Commission in Brussels

Chinese drinkers may face higher prices for European brandies such as Remy Martin following the Chinese government's announcement of provisional tariffs ranging from 30.6% to 39%. This move comes shortly after a majority of European Union countries approved tariffs on electric vehicles manufactured in China.

The imposition of these tariffs could potentially provide Chinese negotiators with leverage in discussions with the EU regarding the reduction or elimination of tariffs on Chinese electric vehicles, which are set to come into effect by the end of the month.

EU countries approved tariffs on Chinese electric vehicles.

Chinese tariffs on European brandies range from 30.6% to 39%.

Tariffs may give China leverage in negotiations with the EU.

Importers of European brandies will be required to make a deposit with the Chinese customs agency for the amount of the tariff starting this Friday. These brandy tariffs are provisional and were introduced following a preliminary finding by China's Commerce Ministry in late August, which concluded that European brandy was being dumped in China, posing a significant threat of harm to domestic producers.