BEIJING (Reuters) – China’s Commerce Ministry stated on Wednesday it might prolong its anti-dumping investigation into brandy from the European Union by three months, lower than the total extension allowed below its earlier tips.
The investigation, launched on January 5 and which ought to finish in a yr, can be prolonged till April 5 as a result of “complexity” of the investigation, the ministry stated in a quick press launch, with out additional particulars. .
The ministry beforehand stated the investigation could possibly be prolonged by six months in particular circumstances.
Preliminary findings of the investigation confirmed that dumping of European brandy threatens to hurt the Chinese language sector, the ministry stated in October because it imposed short-term measures on imports of European brandy, hitting French manufacturers together with Hennessy and Rémy Martin.
The investigation was extensively seen on account of France’s assist for EU tariffs on Chinese language-made electrical autos. French President Emmanuel Macron beforehand referred to as the investigation “pure retaliation.”
China’s measures power Chinese language importers to pay safety deposits of just about 40% in the event that they need to import brandy from the bloc, making delivery brandy from the EU costlier initially.
The French Commerce Ministry beforehand referred to as China’s measures “incomprehensible” and that they violated free commerce.
Final month, the European Fee stated it had formally taken China’s provisional anti-dumping measures to the World Commerce Group.
Shipments of French brandy to China reached $1.7 billion final yr and accounted for 99% of the nation’s spirits imports.
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