[ad_1]
Days after China accused France of dumping cheap brandy into the world’s most populous country, the French cognac industry is hitting back.
In a statement sent to various media outlets, The Bureau National Interprofessionnel du Cognac (BNIC), a trade group, said discounts given to Chinese brandy buyers are not unusual.
“This level appears singularly low compared to what is generally accepted as justification for an anti-dumping investigation,” BNIC spokesperson Valérie Mabin said in a statement to Bloomberg.
A complaint submitted by the China Alcoholic Beverages Association on behalf of the nation’s brandy industry set off the investigation, Reuters reported Friday.
More than 99% of Chinese brandy imports from the European Union come from France, Reuters said.
The move is the latest in a tit-for-tat trade dispute between Europe and China. In December the European Union said it would investigate allegations that China is dumping cheap biodiesel into the continent.
This is not the first time China has accused another country of dumping cheap liquor. In 2021 the country imposed anti-dumping tariffs on Australian wine, although China said it would consider scrapping those tariffs last November.
The BNIC did not outline the extent of the discounts on brandy sent to China, but said in its statement that the relatively small size of those discounts “raises the question of the real purpose of the process,” according to Bloomberg.
The group said it will work with Chinese authorities to “demonstrate that our commercial practices are fully compliant with Chinese and international regulations.”
[ad_2]
Source link