China Imposed Retaliatory Duties Against The EU
Date
10/8/2024 7:09:24 PM
(MENAFN- AzerNews)
By Alimat Aliyeva
The Chinese government has imposed duties on European brandy in
the amount of 30.6-39%. This decision was Beijing's response to the
introduction of EU duties on imports of electric vehicles from
China, Azernews reports.
Duties on brandy are temporary, the publication clarifies.
Starting from Friday, October 11, importers are required to make a
deposit for the amount of the duty to the Chinese customs
service.
Such a move potentially gives Chinese negotiators leverage in
negotiations with the European Union on reducing or eliminating
duties on Chinese electric vehicles. We are talking about
increasing tariffs on imports of electric cars from China to 45%
starting from October 31 for the next five years. The European
Commission believes that duties are necessary for "fair
competition" in the market.
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