China imposed retaliatory duties against the EU

By Alimat Aliyeva

The Chinese government has imposed duties on European brandy in the amount of 30.6-39%. This decision was Beijing's response to the introduction of EU duties on imports of electric vehicles from China, Azernews reports.

Duties on brandy are temporary, the publication clarifies. Starting from Friday, October 11, importers are required to make a deposit for the amount of the duty to the Chinese customs service.

Such a move potentially gives Chinese negotiators leverage in negotiations with the European Union on reducing or eliminating duties on Chinese electric vehicles. We are talking about increasing tariffs on imports of electric cars from China to 45% starting from October 31 for the next five years. The European Commission believes that duties are necessary for "fair competition" in the market.