China imposes tariffs of up to 42.7% on EU dairy products - How it affects Greece

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

The tariffs China will impose will take effect on April 23, according to the country's Ministry of Commerce, and the rates will be set by the "ad valorem subsidy rates" set by the Customs Tariffs Committee.

The duties range from 21.9% to 42.7%, with companies that cooperated in the investigation subject to duties of 28.6% and those that did not cooperate subject to the top rate of 42.7%, according to a statement from a Commerce Department official.

According to the statement, China said EU subsidies on dairy products caused significant damage to China's domestic dairy industry.

How is Greece affected?

Products subject to tariffs include fresh and processed cheese, as well as certain types of milk and cream.

It is worth noting that until 2024, China was Greece's third-largest trading partner, as Greek exports to China have increased significantly in recent decades.

Among the products that Greece exports to China are olive oil, fruit, fish, and petroleum products.

In 2023, Greek exports to China totaled 384 million euros, with the marble sector the main export, at 104 million euros.

At the same time, the value of Greek exports is 0.01% of China's total imports, which amount to 3.039 trillion euros.

The history of tariffs

Last week, Beijing drastically reduced tariffs on imports of pork and pork 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 provisional anti-dumping duties of up to 62.4% in the form of cash deposits on pork imports from the EU.

In November, the EU challenged China's imposition of tariffs on EU brandy imports at the World Trade Organization, stating that "China's provisional measures on EU brandy are not in line with WTO rules."

Trade tensions intensified after Brussels imposed tariffs of up to 45% on electric vehicles imported from China in October last year.

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