French cognac brands sales to China fell 70%
France 24 · 13 days ago
France 24
13 days ago
In a rare positive development amid escalating trade tensions between Brussels and Beijing, China excluded major cognac producers — Pernod Ricard, LVMH, and Rémy Cointreau — from steep tariffs on EU brandy.
Breakdown
- French cognac and Armagnac producers were involved in a trade dispute between the EU and China.
- Major producers are exempt from new Chinese tariffs after agreeing to a minimum price pact. 13s
- The agreement closes Beijing's investigation into Cognac and Armagnac imports. 29s
- China's anti-dumping probe was seen as a response to EU scrutiny of Chinese electric vehicle subsidies. 51s
- Industry groups welcomed the move but called for all punitive measures to be dropped. 1m 32s
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