- French cognac exports to China have decreased significantly since China imposed higher import tariffs.
- Chinese demand for cognac fell by 75% in December.
- French cognac makers report a 10% decrease in exports to China in 2024.
- China raised import tariffs on European cognac in October in response to EU tariffs on Chinese electric vehicles.
- China claims French cognac producers are selling their product at dumping prices.
- Both the European and Chinese markets are affected by the import tariffs.
- Sales of Chinese electric vehicles in Europe declined for the first time last year due to EU tariffs.
- China is the second largest market for cognac after the US.
- The French cognac industry is concerned about the declining demand from China.
- The Bureau National Interprofessionnel du Cognac criticized the French authorities for not negotiating a solution.
Source: nu.nl
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
