Tariffs on brandy: Spain hopes to exhaust all avenues of dialogue with China --[Reported by Umva mag]

Brussels/Luxembourg/Madrid – The Spanish Minister of Economy, Trade and Enterprise, Carlos Cuerpo, insisted this Tuesday on “exhausting all possible avenues of negotiation and dialogue” with China in order to “reach an acceptable vision for both parties” and avoid further “escalation” in the open trade dispute with the Asian giant.

He stated this during a press conference at the end of the EU Economy Ministers’ meeting held this Tuesday in Luxembourg after China decided to impose “provisional anti-dumping measures” on imports of certain brandies originating from the European Union, which will affect a series of European brands, including the Spanish Bodegas Osborne and Miguel Torres, to which a 34.8% will be applied.

After learning the news, the European Commission announced that it would report the tariffs to the World Trade Organization (WTO). In a statement on social networks, the EU Trade Spokesman, Olof Gill, considered these to be “groundless measures” and the EU is determined “to defend the European industry against the abuse of trade defense instruments.”

“We are in 2024 and we must not be naive, we have to ensure that our companies compete on equal terms with those coming from abroad,” stated the Spanish minister, who also defended that any measure, both from the EU and China, must be “based on evidence.”

China already threatened at the end of the summer to punish brandy produced in the European Union with provisional measures, but the idea was shelved while Beijing and Brussels continued the dialogue to resolve the crisis unleashed by the rate of up to 35.3% on Chinese electric cars that the EU introduced in July to offset Beijing’s illegal subsidies to the country’s producers.

The European tariffs were temporary, but the European Commission confirmed last Friday that it is proceeding with the process to make the tariffs of up to 35.3% permanent from next October 31. The levy adds to another 10% that the EU already imposed on electric vehicles.

In this regard, Cuerpo admitted that the tariffs seemed an “adequate” starting point, but stressed that “now, the important thing is to advance in the negotiation to exhaust all possible avenues of dialogue” and thus achieve an acceptable solution for both parties. (October 8)

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