9 hours agoChina responds to EU ban with restrictions on import of European medical equipment
Periskopi(a year ago)
(a year ago)China's Finance Ministry announced on Sunday that it would limit government purchases of medical equipment from the European Union that exceed over $45m, or $6.3m, in response to Brussels' restrictive measures. Relations between Beijing and Brussels have been disturbed after the European Union imposed tariffs on built electrical vehicles [...]
China's Finance Ministry announced on Sunday that it would limit government purchases of medical equipment from the European Union that exceed over $45m, or $6.3m, in response to Brussels' restrictive measures.
Relations between Beijing and Brussels have been strained after the European Union imposed tariffs on electric vehicles built in China and China imposed taxes on EU alcohol imports.
Last month, the European Union announced it would prevent Chinese companies from participating in EU public tenders for medical equipment worth 60 billion euros, or more a year, after concluding that European companies did not have equal access to the Chinese market.
The measure was undertaken by the European Commission in line with the EU's International Procurement Mechanism, which went into effect in 2022 and aims to ensure mutual access to markets.
China's excesses were expected as the Ministry of Commerce signalled the necessary “measures against the EU decision late last month.
Unfortunately, despite China's good will and sincerity, the EU has insisted on following its path, taking restrictive measures and establishing new protectional barriers”, the Ministry of Commerce said in a statement Sunday.
“Therefore, China has no choice but to take restrictive bilateral measures”, she added.
The Finance Ministry also said China would limit imports of medical equipment from other countries containing components produced in the EU to more than 50 per cent of the contract value.
Measures take effect from today.
The Ministry of Commerce explained that European companies operating within China will not be affected.
On Friday, China also announced the introduction of tariffs of up to 34.9 per cent for five years on alcohol imported by the European Union ʹthe bulk of it cognac from France after the completion of an investigation believed to be a response to EU electricity fees.
However, the main cone producers such as Pernod Richard, LVMH and Remy Cointreau were exempt from tariffs, provided they sell at a minimum price, which China has not made public. / REL/ Periscope.
