Rémy Cointreau: Clarification Related to Announcements by the Chinese Ministry of Commerce Concerning Its Anti-dumping Investigation Into Imports of European Brandy Into China [Yahoo! Fina...
REMY COINTREAU UNSP/ADR (REMYY)
NASDAQ:AMEX Investor Relations:
remy-cointreau.com/en/finance/publications
Company Research
Source: Yahoo! Finance
Commerce of the People's Republic of China (MOFCOM) which evaluates, on a preliminary basis and with no immediate effect, the dumping margin applied on imports into China by Rémy Cointreau's Cognac division at 38.1%. This could imply an additional tariff in the same proportion on the future exports to China. This decision comes despite the Group's full cooperation with the Chinese authorities since the investigation began on January 5, 2024, and notwithstanding Rémy Cointreau's demonstration throughout the process of full compliance of its products and business practices with both Chinese and international regulations as well as the absence of dumping. This decision is described as "preliminary" and is not accompanied by "provisional measures", which means that the final tariffs to be announced at the end of the investigation may differ from those just announced, or may not be applied. At this stage, Rémy Cointreau is obliged to await MOFCOM's final decision to be able to assess
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