Wednesday, June 5, 2013

China hits back at EU with wine dumping probe

China hit back at European wine exports on Wednesday in response to the European Union's decision to impose duties on imports of Chinese solar panels, as tensions increased between two of the world's biggest trading blocs.

In a step targeting southern European states such as France and Italy that back the duties but largely sparing north European opponents such as Germany, Beijing said it launched an anti-dumping and anti-subsidy probe into sales of European wine.

The EU will impose duties on imports of Chinese solar panels from Thursday, but announced a dramatically reduced initial rate after pressure from some large member states led by Berlin in the hope of negotiating a settlement with Beijing.

http://www.reuters.com/article/2013/06/05/us-china-eu-solar-idUSBRE95403020130605