China and France Seek Resolution in Brandy Trade Dispute
China and France aim to settle their trade disagreements, focusing on Chinese levies on European brandy. Meetings in Paris and Beijing have sparked hope for resolution, though challenges persist. The disputes followed the EU's measures against Chinese electric vehicle imports, affecting major cognac brands.
China and France have navigated their trade differences towards resolution, engaging in dialogues focused on tariffs imposed by China on European brandy. China's foreign ministry confirmed their commitment to diplomatic talks to address trade issues.
This comes after Chinese commerce minister Wang Wentao's discussions with his French counterpart on the sidelines of an OECD conference in Paris, intending to expedite the talks. The negotiations have revived optimism about resolving the contentious measures, especially as they continue in Beijing with technical conversations.
The root of the discord lies in Chinese duties on European brandy, particularly impacting French cognac following the EU's actions against Chinese electric vehicle imports. This has elicited accusations of retaliation from France's President Emmanuel Macron, adding tension between the nations.
(With inputs from agencies.)
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- cognac
- tariffs
- LVMH
- french industry
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