China to impose tariffs of up to 42.7% on EU dairy products

(Sharecast News) - China said on Monday that it will impose duties of up to 42.7% on certain dairy products imported from the European Union. The country's Ministry of Commerce said the tariffs - which will target products such as milk and cheese - will range from 21.9% to 42.7%.

Companies that cooperated with the investigation will be subject to tariffs of 28.6%, while those that did not will face the top rate of 42.7%.

The Ministry of Commerce said that EU subsidies for dairy products had caused "substantial damage" to the domestic dairy industries. The tariffs, which are provisional, will take effect on Tuesday.

According to Reuters, around 60 firms, including Arla Foods, which owns brands such as Lurpak and Castello, will pay tariffs of between 28.6% to 29.7%.

Italy's Sterilgarda Alimenti SpA will pay the lowest rate of 21.9% while FrieslandCampina Belgium N.V. and FrieslandCampina Nederland B.V. will pay the highest rate of 42.7%, Reuters said.