Cognac on the rocks: industry seeks French govt help from Chinese tariffs

The Local - Fr

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Cognac on the rocks: industry seeks French govt help from Chinese tariffs

The French cognac industry said Friday it was losing €50 million per month since the imposition of antidumping duties by China and appealed for government help.

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The cognac sector claims to lose EUR 50 million per month since China's introduction of anti-dumping taxes in the autumn, one of its main markets, and calls on the government to act urgently.

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The cognac sector claims to lose EUR 50 million a month since China's introduction of anti-dumping taxes in the autumn, one of its main markets, and calls on the government to act as a matter of urgency. Since 11 October, European brandy exports, the vast majority of which are cognac, have been subject to a bank guarantee by Chinese customs. Taken by Beijing in response to a similar procedure by the European Union on its electric vehicles, "thes…