China announced tariffs of up to 42.7% on dairy products from the European Union Monday, following the results of an anti-subsidy investigation that began in August 2024. In a statement by the country's Ministry of Commerce, China said that EU subsidies for dairy products had caused "substantial damage" to China's domestic dairy industries. The tariffs are set to take effect on April 23, the ministry said, and the rates would be determined by the amount of "ad valorem subsidy rates" from the Customs Tariff ...