France praises China over thaw in brandy trade row
Beijing said 34 European brandy makers, including several French cognac producers, had signed an accord to avoid tariffs. Photo: AFP
France on Friday praised China's steps to settle a trade dispute over European brandy imports but warned that "major issues" remained unresolved.
The signs of a thaw in the row over the alcohol came as Foreign Minister Wang Yi met French President Emmanuel Macron and French Foreign Minister Jean-Noel Barrot in Paris.
In recent months China and the European Union have butted heads over Beijing's generous subsidies for its domestic industries.
Beijing launched an investigation last year into EU brandy, months after the bloc undertook a probe into Chinese electric vehicle (EV) subsidies.
In the latest salvo, China will from Saturday require European brandy exporters to raise prices or risk anti-dumping taxes of up to 34.9 percent.
Beijing said 34 European brandy makers, including several French cognac producers, had signed an accord to avoid tariffs as long as they stick to an agreed minimum price.
France's cognac makers' association BNIC, which includes key producers Hennessy, Remy Cointreau and Martell, confirmed that some companies had agreed to price increases in China to avoid anti-dumping taxes.
Macron and Barrot praised China's steps to resolve the dispute but stressed they would discuss the outstanding differences with Wang.
"This is a positive step towards resolving this dispute, which was threatening our exports," Macron said on X.
"I will continue to raise these issues with the Chinese authorities this afternoon."
In a statement to AFP, Barrot said: "Several major issues remain unresolved, in particular the exclusion of certain players from the scope of the exemptions."
"We remain fully committed to reaching a definitive solution based on the conditions that existed prior to the investigation," he said.
Wang has held fraught meetings in several European countries this week.
After meeting Macron and Barrot, Wang told a press conference: "The two sides had in-depth, active and sincere exchanges on Sino-French and European relations."
No mention was made of the brandy dispute.
Almost all EU brandy is cognac produced in France, whose exports to China are worth 1.4 billion euros (US$1.6 billion) per year.
French liquor giant Jas Hennessy said it would face levies of 34.9 percent if it did not stick to the deal. Remy Martin will be hit with 34.3 percent and Martell 27.7 percent. (AFP)
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