China Extends Anti-Dumping Probe into EU Brandy 🍷🇨🇳
Hey, brandy lovers! 🍇🥃 There's some spicy news brewing between the Chinese mainland and the European Union. China's Ministry of Commerce just announced they've extended their anti-dumping investigation into EU-imported brandy until April 5, 2025. That's a whole new chapter in this spirited saga!
So, what's the tea? 🫖 Back in January, the China Alcoholic Drinks Association asked for an investigation, saying that European brandy makers might be selling their goods at unfairly low prices in the Chinese mainland. The Ministry kicked off the probe on January 5, looking into spirits distilled from grape wine in small containers (less than 200 liters) imported between October 1, 2022, and September 30, 2023.
But wait, there's more! 📈 They're also checking out any damage done to the local brandy industry from as far back as January 1, 2019. Talk about digging deep! 🕵️♀️
On August 29, the Ministry shared that their preliminary findings showed EU brandy might be causing some real problems for domestic producers. They believe there's a direct link between the imported brandy and the challenges faced by local distillers. 🍾😟
As a result, since October 11, the Chinese mainland has slapped temporary anti-dumping measures on brandy from the EU. This means importers now have to make deposits with customs ranging from 30.6% to 39% based on the value of the goods. That's a hefty sum! 💰
The investigation extension is due to the \"complexity of the case,\" according to the Ministry. Guess we'll have to wait and see how this international brandy battle unfolds! Stay tuned, amigos! 🌐👀
Reference(s):
cgtn.com
