China's imposition of tariffs on EU brandy imports marks a significant escalation in the ongoing trade dispute, reflecting broader tensions stemming from EU action on Chinese electric vehicles.
The levies on EU brandy, which can reach as high as 39%, signal a shift in Beijing's stance just weeks after it denied implementing provisional tariffs despite evidence of dumping.
European manufacturers faced immediate market repercussions following China's announcement, with notable declines in shares for BMW, Remy Cointreau, and LVMH as the trade row intensifies.
EU Commission President Ursula von der Leyen emphasized that while the EU is committed to allowing Chinese exports, this should not come at the cost of local manufacturing due to unfair subsidies.
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