Hey news lovers! The Chinese mainland’s Ministry of Commerce just dropped the final ruling in its anti-dumping probe into EU brandy imports. For the next five years, anti-dumping measures will protect the local industry, effective starting Saturday! 🍾
The investigation, which kicked off in January 2024, revealed dumping margins between 27.7% and 34.9% on EU brandy. This significant gap has raised concerns for domestic producers who face fierce competition in the market.
In an interesting twist, the ministry accepted price undertakings from relevant EU industry associations and enterprises. This means that imports conforming to these undertakings will avoid the anti-dumping duties—a move that balances trade dynamics like a plot twist straight out of your favorite blockbuster!
The probe focused on brandy imported in containers holding less than 200 liters during the period from October 1, 2022, to September 30, 2023. With these measures now in place, the local industry is better positioned to maintain fair competition. Stay tuned for more updates as this story unfolds!
Reference(s):
China issues final ruling of anti-dumping probe into EU brandy imports
cgtn.com
