China imposes provisional tariffs on European brandy after EU approves tariffs on Chinese EVs

Chinese drinkers may pay more for Remy Martin and other European brandies after the government announced provisional tariffs of 30.6% to 39% on Tuesday. The announcement comes four days after a majority of European Union countries approved duties on electric vehicles made in China. The 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% on Chinese EVs, which would take effect at the end of this month. The brandy tariffs are provisional and require importers to make a deposit with the Chinese customs agency for the amount of the tariff, starting Friday.