BEIJING: China will prolong its anti-dumping investigation into EU brandy by three months, its commerce ministry stated on Wednesday (Apr 2), giving EU exporters, primarily French cognac suppliers, extra time to attempt to avert painful Chinese language penalties.
The probe, initiated in January 2024 amid heightened commerce tensions between China and the 27-state bloc, was initially because of be concluded in a 12 months, however was prolonged to Apr 5, 2025.
China’s delay to the conclusion of its inquiry to Jul 5 adopted a go to by French International Minister Jean-Noel Barrot final week throughout which Beijing provided deeper bilateral cooperation as US President Donald Trump threatened trade tariffs on partners, together with the European Union and China.
On the finish of his go to, Barrot stated he had been informed the conclusion was postponed by three months, ruling out the state of affairs of a sudden software of definitive regulation to the sector.
In view of the complexity of the case, the commerce ministry stated it was extending the investigation, with out giving extra particulars.
China and america are the cognac trade’s most essential export markets.
Beijing’s choice to delay any definitive penalties on EU brandy precedes an anticipated announcement by Trump afterward Wednesday to levy taxes on all international locations that commerce with america.
In October final 12 months, Beijing imposed short-term measures on EU brandy, hitting French manufacturers together with Hennessy and Remy Martin, even because the investigation continues, after France supported EU tariffs on China-made electrical autos.
For now, the Chinese language measures require China’s importers to pay safety deposits of almost 40 per cent in the event that they want to import brandy from the bloc, making it extra pricey upfront to ship brandy from the EU.
