27 Feb China Threatens Tariffs on Alcohol Beverages
A social media account, affiliated with Chinese broadcaster CCTV, Yuyuan Tantia, has announced that China may potentially launch an investigation into French wines or impose reciprocal tariffs on EU products if the French government pushes for tariffs on Chinese goods.
This is in response to a French government strategy report that urges the EU to consider an unprecedented 30% across the board tariff on Chinese goods or a 30% depreciation of the euro against the renminbi to counter a surge of cheap imports, which Yuyuan Tantia states violates the World Trade Organisation rules.
China has already conducted anti-dumping investigations into European brandy and previous steps in the probe included provisional duties on certain European spirits.
France is the largest exporter of cognac to China, and the market accounts for a significant portion of its premium spirits shipments.
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