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International Business Times
International Business Times
Business

China To Require EU Brandy Exporters To Raise Prices Or Face Tariffs

European Union China Beijing Europe
Almost all EU brandy is cognac produced in France, exports of which are worth 1.4 billion euros ($1.6 billion) per year (Credit: AFP)

China will require major European brandy exporters to raise prices or risk anti-dumping taxes of up to 34.9 percent from Saturday, the latest salvo in its long-running trade spat with the bloc.

Almost all EU brandy is cognac produced in France, exports of which to China are worth 1.4 billion euros ($1.6 billion) per year.

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