China and EU Dairy Trade Feud Heats Up

China has decided to impose tariffs on European dairy products. The move comes after an investigation into EU subsidies for dairy. These subsidies, according to China, have hurt their own dairy industry. The tariffs will range from 21.9% to 42.7%. Companies that cooperated with the investigation will face lower tariffs. Those that did not cooperate will face the highest tariffs.

Affected Products and Timeline

The affected products include various types of cheese, milk, and cream. This includes famous cheeses like Roquefort. The tariffs will start on December 23.

Broader Trade Dispute

This decision is part of a larger trade dispute between China and the EU. Last year, the EU put tariffs on Chinese electric vehicles. The EU has also challenged China's tariffs on EU brandy at the World Trade Organization.

EU Response

The EU has called these new tariffs unjustified. They plan to respond to China's actions. Meanwhile, China recently reduced tariffs on pork imports from the EU. This is a significant shift from the temporary tariffs they imposed on pork earlier this year.

Growing Tensions

This back-and-forth shows the growing tension in trade relations. Both sides are using tariffs as a tool in their disputes. The impact on consumers and businesses remains to be seen. It's a complex issue with no easy solutions. The world watches as these two major economic powers navigate their differences.