(Bloomberg) -- China said it found evidence of dumping by European brandy makers in a preliminary probe but stopped short of levying tariffs, in a sign Beijing wants to negotiate with the European Union in managing various trade issues spanning electric cars to agriculture.
Imported brandy from the European Union has been dumped into China, dealing material damage to China’s domestic industry, but no anti-dumping measures will be taken for now, China’s Ministry of Commerce said in statement published on its website Thursday.
China launched the anti-dumping probe into European brandy in January this year following a EU investigation into its electric vehicle subsidies. The decision to withhold punitive action is a relief for European liquor giants and their China distributors struggling with rising inventories amid weak consumer sentiment.
The decision came after the EU said earlier this month that it planned to slap additional tariffs on electric vehicles shipped from China. The additional duties were revised slightly, leaving the door open to talks with manufacturers before they take effect by November.
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