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France and China Near Cognac Import Trade Deal

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France’s foreign minister has said that France and China are making progress towards resolving a trade dispute over cognac imports.

Jean-Noël Barrot mentioned that the findings from a Chinese probe, which might result in long-term tariffs on temporary European cognac imports, have been pushed back to June.

“I’m sure we will feel much better once this issue is resolved. It’s evident that with each step, we are progressing toward a solution,” stated Barrot.

In the previous year, China announced temporary tariffs ranging from 30.6% to 39% on products like Rémy Martin and other European brandies following the approval by a majority of EU nations of levies on electric vehicles manufactured in China.

The duties on brandy are temporary and necessitate importers to pay an amount equivalent to the duty as a deposit with the Chinese customs authority.

This action came after an initial assessment made by China’s Commerce Ministry concluded that European brandy was being sold at unfairly low prices in China, potentially causing significant harm to local manufacturers.

“Until today, the sector’s concern was that a final decision would be reached at the conclusion of the investigation phase,” Barrot stated.

After this meeting, I was informed that the inquiry has been delayed for three months, thereby eliminating the possibility of an abrupt imposition of final tariffs on this industry.

tens of thousands of positions affected?

Based on the sector data, China leads as the biggest buyer of cognac in terms of value.

Specialists indicated that the implementation of final tariffs would impact 70,000 direct and indirect positions, 270 cognac producers, and 4,400 grape growers.

China has initiated multiple anti-dumping probes into European brandy, port wine, and dairy goods.

The brandy investigation was the initial one and primarily focused on French producers of cognac and related beverages like armagnac.

Barrot mentioned that the inquiry would conclude after three months, with subsequent decisions made by the Chinese authorities according to the findings.

He stated that everyone will keep working collaboratively to leave this disagreement in the past, allowing them to progress on a solid foundation.

During his state visit to France last year, French President Emmanuel Macron gave Chinese leader Xi Jinping two bottles of cognac as part of their gift exchange.

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