Beijing announced it would refrain from imposing provisional tariffs on brandy imported from the European Union, despite determining that it had been sold in China at prices below market value. This decision provides some relief amid ongoing tense trade negotiations between the two sides.
China’s commerce ministry stated that it had discovered European distillers were selling brandy in its vast consumer market of 1.4 billion people at a dumping margin between 30.6% and 39%, causing harm to the domestic industry.
via Reuters
