China hits EU brandy with tariffs in tit-for-tat move

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China hits EU brandy with tariffs in tit-for-tat move

China hits EU brandy with tariffs in tit-for-tat move

Chinese drinkers might pay more for Remy Martin and other European brandies after the government announced provisional tariffs of 30.6 per cent to 39 per cent, four days after a majority of European Union countries approved duties on electric vehicles made in China.

Tuesday’s tit-for-tat move potentially gives Chinese negotiators leverage in talks with the EU on reducing or eliminating the tariffs of up to 35.3 per cent on Chinese EVs, which would take effect at the end of October.

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