Hey cheese lovers! 🧀 Guess what? China just announced it's launching an anti-subsidy investigation into some of the EU's dairy products starting from August 21. 😲
The Chinese Commerce Ministry spilled the news on Wednesday, saying the probe focuses on certain dairy delights coming from the EU, like fresh cheese, curd, and blue cheese. So if you're a fan of these cheesy goodies, keep an eye out! 👀
But why the sudden investigation? Well, it's in response to a request from the Dairy Association of China and the China Dairy Industry Association. They reached out in July on behalf of the local dairy industry. 🐄🇨🇳
Before jumping in, China even chatted with the EU government about it on August 7, and they had a consultation a week later. Talk about due diligence! 🤝
The investigation will look into dairy products sent between April 1, 2023, and March 31, 2024. Plus, they'll be checking if these imports have hurt China's dairy industry from as far back as January 1, 2020. 🧐
A total of 20 EU subsidies are on China's radar. This includes biggies from the EU's Common Agricultural Policy and subsidies from countries like Austria, Belgium, Croatia, the Czech Republic, Finland, Italy, Ireland, and Romania. 🌍
The whole process is expected to wrap up before August 21, 2025. But if things get tricky, they might extend it by six months. ⏳
So, what does this mean for us? While it's a serious trade matter, it's also a reminder of how interconnected our world is. 🌐 Whether you're into global economics or just love your cheese platter, it's worth keeping an eye on this story! 🧀❤️
Reference(s):
cgtn.com
