China Launches Anti-Subsidy Probe into EU Dairy Imports Amid Trade Tensions - What You Need to Know
China has escalated tensions with the European Union by opening an anti-subsidy probe into imported dairy products, following a revised draft decision related to tariffs on China-made electric vehicles. The probe will focus on various types of cheeses, milks, and creams, prompted by a complaint from the Dairy Association of China and the China Dairy Industry Association.
The investigation will target 20 subsidy schemes from EU countries like Austria, Belgium, Italy, and more. The EU is China's second-largest source of dairy products, with at least 36% of total imports in 2023. The EU exported 1.7 billion euros worth of dairy products to China in 2023.
In addition to dairy, China has also launched anti-dumping investigations into pork, brandy, and plastic imports from the EU. These probes could have significant implications for the European Union, with pork suppliers from South America, the U.S., and Russia poised to gain market share if imports from the EU are restricted.
Overall, these probes highlight the growing trade tensions between China and the EU and could impact the prices and availability of various products in the global market. Investors and consumers should closely monitor the developments in these investigations to assess potential risks and opportunities in the affected industries.