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4w ago

China Delays Cognac Tariffs, Offering Temporary Relief to French Industry

Following diplomatic efforts, China has postponed the permanent imposition of tariffs on French cognac for three months, but uncertainty remains as U.S. tariff threats loom.

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Overview

  • China has agreed to a three-month delay on permanently imposing additional tariffs on French cognac, providing a temporary reprieve for the export-reliant industry.
  • The French cognac sector has been losing €50 million monthly since October 2024, with exports to China plummeting by 72% in February 2025 due to temporary tariffs.
  • The Chinese tariffs are part of a broader trade conflict linked to EU anti-dumping measures on Chinese electric vehicles.
  • The U.S. has threatened a 200% tariff on European wines and spirits, further pressuring the French cognac industry, which relies on exports for 98% of its sales.
  • French Foreign Minister Jean-Noël Barrot emphasized the need for a long-term resolution, warning that the situation remains precarious despite the temporary delay.