Chinese shoppers may pay more for Remy Martin and other European brands after the government published provisional tariffs ranging from 30.6% to 39% on Tuesday, four days after most European Union countries approved taxes on Chinese-made electric vehicles.
The tit-for-tat action might provide Chinese negotiators leverage in negotiations with the EU on the reduction or removal of up to 35.3% tariffs on Chinese electric vehicles, which are set to go into force at the end of this month.
European Brandy Imports
Importers must submit the full sum of the provisional brandy duties to the Chinese customs department beginning on Friday.
The declaration came after China’s Commerce Ministry discovered, in late August, that European brandy was being dumped in the country and posing a risk of “substantial damage” to local manufacturers.
The Impact of Weak German Consumer Confidence on Economic Stability
