China is going to impose anti-dumping duties of between 27.7% and 34.9% on spirits from the European Union.
The duties will take effect on 5 July for five years. The decision follows months of investigation into dumping practices, according to the Chinese Ministry of Commerce. Exceptions may be made for companies that make price commitments.
Provisional duties were already in place on spirits, mainly cognac.
On the French stock exchange, shares in spirits producers Remy Cointreau (-7%) and Pernod Ricard (-4.7%) initially took a hit, but later recovered somewhat.
The measure is a new step in the tariff war between China and the European Union. For its part, the EU is imposing heavy import tariffs on electric cars from China.
