China spares major cognac makers from EU brandy dumping duties
Story: China saved some of Europe’s major cognac manufacturers from new tasks up to 35% on Friday, EU Brendi.
Companies include Pernod Ricard, Lvmh and Remy CoinTreau.
Beijing tried to solve a separate order on tariffs in Chinese electric vehicles, while the movement alleviated tensions with Brussels.
In a final decision, the Chinese Ministry of Commerce said it would serve up to 34.9% of the EU, which originated from the EU for a five -year period from July 5th.
Beijing said that most of France’s cognac industry will be exempt from tasks if they sell at a minimum price.
He didn’t explain what this price was.
In January last year, Beijing launched the EU Brendi Anti-Damping last.
The EU’s decision to apply large import tariffs to Chinese Houses was seen as retaliation.
EU spokesman Olof Gill still criticized tariffs.
He said: “We believe that China’s measures are unfair. We believe that they are unfair. We believe that they are inconsistent with valid international rules and therefore they are unfounded.”
Chinese Foreign Minister Wang is visiting Europe this week.
Later on this month, he wants to prepare the ground for a summit among the EU and Chinese leaders.
Home dispute and China’s sidewalks on the export of rare worlds will be on the agenda.
The shares of the French souls producers were confused with the decision of investors on Friday.
Many believed that Beijing agreed to reduce tariffs in exchange for price commitments.
