China suggests that dumping of EU brandy - 99% of it from France – threatens 'substantial damage' to its own sector. CGTN’s Ross Cullen reports on the latest tariff tiff
https://tinyurl.com/bdd3n856
https://tinyurl.com/bdd3n856
Category
🗞
NewsTranscript
00:00China's Commerce Ministry said that the preliminary findings of an investigation had found dumping of brandy from the EU threatened what it called substantial damage to its own sector.
00:12French brandy shipments to China reached 1.7 billion dollars last year and France is seen as the primary target of Beijing's brandy inquiry.
00:22Paris was a key supporter of the incoming European Union tariffs on China-made EVs.
00:28In a statement on Tuesday, France's National Interprofessional Bureau of Cognac said it regretted China's hardening position on the matter, having previously been told there would be no duties levied before the investigation concluded.
00:41The organisation called on French authorities not to abandon the sector to what it called catastrophic impacts in a dispute that does not concern them.
00:52We feel like we were sacrificed knowingly because we had the chance to explain several times what the impact of this potential taxation would be on our sector.
01:02France and Europe made this choice and we can see that they're not hearing our demands and are willingly playing with fire.
01:08Those who took the decisions should own up to them and we will not accept suffering in silence.
01:14From Friday, importers of EU brandy will have to put down security deposits ranging from 35 to 39 percent of the import value of shipments.
01:24Many on both sides are concerned about the growing prospects of a trade war between China and the EU, with other European agricultural sectors including dairy and pork fearing similar measures.
01:37Ross Cullen, CGTN, Paris.