China's Ministry of Commerce (MOFCOM) on Friday issued its final ruling on the anti-dumping investigation into brandy imports from the EU, concluding that imported brandy from EU involves dumping, the domestic brandy industry is under substantial threat of damage, and there is a causal relationship between the dumping and the substantial threat of damage.The final dumping margins is determined at 27.7 to 34.9 percent. The anti-dumping duties and the implementation of the accepted price undertakings will be effective for five years starting from July 5, 2025, according to MOFCOM.MOFCOM also announced that, following a lawful review, it has accepted price undertakings submitted by relevant EU industry associations and companies. Imports that meet the terms of the undertakings will be exempt from anti-dumping duties.A spokesperson for MOFCOM said on Friday that the MOFCOM conducted the investigation in strict accordance with Chinese laws and regulations, ensuring the rights of all interested parties and soliciting broad input. Based on verified facts and evidence, the investigation concluded that the imported brandy from the EU involves dumping, with a margin ranging from 27.7 to 34.9 percent.The anti-dumping investigation into brandy imports from the European Union was launched on January 5, 2024, following a request from the domestic industry.The spokesperson noted that following the preliminary ruling, relevant EU industry associations and companies voluntarily submitted price undertaking applications within the required timeframe. After careful review, the investigating authority accepted undertakings that complied with Chinese legal requirements.Exporters meeting the terms of the accepted undertakings will be exempt from anti-dumping duties, according to the spokesperson.China has consistently advocated for the prudent use of trade remedies, and its acceptance of price undertakings in this case reflects a commitment to resolving trade frictions through dialogue and consultation, the spokesperson said.The spokesperson expressed hope that the EU will meet China halfway to enhance communication, jointly address trade disputes, and create favorable conditions for consolidating and expanding China-EU economic and trade cooperation. (ICE SHANGHAI)

Fonte notizia: Global Times