China imposes anti-dumping duties on EU brandy imports for 5 years

• Dumping margin decided to be between 27.7% and 34.9%, as domestic related brandy industry threatened with 'substantial damage'

ISTANBUL

China on Friday decided to impose anti-dumping duties and price undertakings on import-related brandies from the EU for the next five years, beginning Saturday.

In the final ruling of the anti-dumping investigation, the Chinese Commerce Ministry said: "The domestic-related brandy industry is threatened with substantial damage, and there is a causal relationship between dumping and the threat of substantial damage."

The dumping margin is decided to be between 27.7% and 34.9%.

Beijing's decision to punish some EU imports comes as China's Foreign Ministry just held a China-EU high-level strategic dialogue alongside EU foreign affairs chief Kaja Kallas in Brussels on Wednesday. Wang is on a three-nation tour of Europe, including Belgium, Germany, and France.

The high-level talks between the two sides come ahead of the China-EU leaders' summit, which is scheduled for later this month. Bloomberg claimed that Beijing wants the two-day summit reduced to a single day.

EU Commission President Ursula Von der Leyen and EU Council President Antonio Costa plan to meet with President Xi Jinping and Premier Li Qiang in Beijing on July 24. Later, the duo would hold a business summit in Hefei in central China the next day, but Beijing wants the summit to be only one day in Beijing, the report said.