In a uncommon optimistic improvement amid escalating commerce tensions between Brussels and Beijing, China on Friday excluded main cognac producers — Pernod Ricard, LVMH, and Rémy Cointreau — from steep tariffs on EU brandy.
Beginning Saturday, China will impose duties of as much as 34.9% for 5 years on brandy imported from the European Union, nearly all of which is French cognac, based on the Chinese language Commerce Ministry’s last ruling following a year-long investigation.
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