EU to launch WTO challenge against China's brandy squeeze

Beijing's decision appeared to be a retaliatory move after the European slapped more import tariffs on Chinese-made electric vehicles. Trade relations between Brussels and Beijing have become increasingly strained.

The Chinese Commerce Ministry released a list showing the rates each firm would expect to pay, ranging from 30.6% for cognac house Martell to 39% for Jas Hennessy and 38.1% for Remy Martin.