EU to launch WTO challenge against China's brandy squeeze
EU to launch WTO challenge against China's brandy squeeze
Beijing's decision appeared to be a retaliatory move after the European slapped more import tariffs on Chinese-made electric vehicles. Trade relations between Brussels and Beijing have become increasingly strained.
Beijing's decision appeared to be a retaliatory move after the European slapped more import tariffs on Chinese-made electric vehicles. Trade relations between Brussels and Beijing have become increasingly strained.
The Chinese Commerce Ministry released a list showing the rates each firm would expect to pay, ranging from 30.6% for cognac house Martell to 39% for Jas Hennessy and 38.1% for Remy Martin.
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So China slapped tariffs on French products instead of on the German cars?
Germany was against the tariffs while France supported them, so it does make sense.