Hey there! Have you ever heard of brandy? It’s a type of drink made by distilling wine. 🍇🍷 In China, brandy is quite popular, and there are many local producers who make it.
Recently, China found out that some brandy from the European Union (EU) was being sold in China at prices that were too low. This is called “dumping”. Think of it like this: Imagine if someone sold cookies in your school for a super low price, making it hard for others to sell their own cookies. 🍪 That’s not fair, right?
To protect its local brandy makers, China’s Ministry of Commerce decided to take action! 🛡️ They announced that they will put anti-dumping measures on these brandy imports from the EU for the next five years, starting this Saturday.
These measures mean that brandy from the EU will have extra fees ranging from 27.7% to 34.9%. This helps make sure that everyone is playing fair and that Chinese brandy producers aren’t hurt by super cheap imports.
But here’s the good news! 🎉 China is still open to working things out. They have accepted some agreements from certain EU brandy makers. If these makers agree to certain terms, they won’t have to pay the extra fees. This shows that China wants to solve problems by talking and cooperating. 🤝
China hopes that the EU will also work together to make trade fair and beneficial for both sides. This way, everyone can enjoy delicious brandy and support their local businesses! 🍾🌍
Reference(s):
China issues final ruling of anti-dumping probe into EU brandy imports
cgtn.com
