China slaps tariffs of up to 42.7% on EU dairy products, alleging ‘damage’ to the domestic dairy industry

China slaps tariffs of up to 42.7% on EU dairy products, alleging ‘damage’ to the domestic dairy industry


French cheeses displayed in a store in Paris.

Bertrand Guay | Afp | Getty Images

China announced tariffs of up to 42.7% on dairy products from the European Union Monday, following the results of an anti-subsidy investigation that began in August 2024.

In a statement by the country’s Ministry of Commerce, China said that EU subsidies for dairy products had caused “substantial damage” to China’s domestic dairy industries.

The tariffs are set to take effect on April 23, the ministry said, and the rates would be determined by the amount of “ad valorem subsidy rates” from the Customs Tariff Commission.

Tariffs range from 21.9% to 42.7%, with companies “who cooperated with the investigation” seeing tariffs of 28.6%, and those that “did not cooperate” subject to the top rate of 42.7%, according to a statement from a Commerce Ministry official.

Products that fall under the tariffs include fresh and processed cheese, as well as some kinds of milk and cream.

Beijing last week sharply cut its duties on pork imports and pig by-products from the European Union, with new tariff rates ranging from 4.9% to 19.8% on dozens of European pork exports.

Earlier in September, China imposed temporary anti-dumping tariffs of up to 62.4% in the form of cash deposits on pork imports from the EU.

Separately, the bloc in November challenged China’s imposition of tariffs on imports of EU brandy at the World Trade Organisation, saying “China’s provisional measures on EU brandy are not in line with WTO rules.”

The trade tensions flared after Brussels slapped tariffs of up to 45% on electric vehicles imported from China in October last year.

— CNBC’s Anniek Bao contributed to this report.



Source

China eases IPO rules for firms developing reusable rockets
World

China eases IPO rules for firms developing reusable rockets

Zhuque-3 rocket by China’s private rocket firm LandSpace, takes off from the Jiuquan Satellite Launch Center, China, December 3, 2025, in this screengrab taken from handout drone footage provided by LandSpace. Landspace | Via Reuters Chinese companies developing reusable commercial rockets will have access to a fast lane for initial public offerings on the tech-heavy […]

Read More
There are two risks the market isn’t pricing in heading into the new year, according to Apollo’s Torsten Slok
World

There are two risks the market isn’t pricing in heading into the new year, according to Apollo’s Torsten Slok

Investors are discounting two major risks for the stock market heading into 2026, according to Torsten Slok, the chief economist at Apollo Global Management. For the new year, Slok is standing by an overall bullish thesis but acknowledged that one major headwind is the market currently pricing in more interest rate cuts than the Federal […]

Read More
Oracle shares on pace for worst quarter since 2001 as new CEOs face concerns about AI buildout
World

Oracle shares on pace for worst quarter since 2001 as new CEOs face concerns about AI buildout

Oracle CEO Clay Magouyrk speaks at a Q&A session following a tour of the OpenAI data center in Abilene, Texas, on Sept. 23, 2025. Shelby Tauber | Pool | Reuters Three months ago Oracle named Clay Magouyrk and Mike Sicilia as its new CEOs. They’re off to a rough start. Oracle shares have plummeted 30% […]

Read More