China’s Cognac Import Plunges After Tariff Hike

• 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.

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