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France 24

French cognac brands sales to China fell 70%

France 24 · New
France 24
France 24
New

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.

BreakdownGenerated by LeadStory AI
  • 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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