Overview

• China’s Commerce Ministry has imposed definitive anti-dumping duties of 27.7–34.9% on EU-origin brandy for five years starting July 5.
• Pernod Ricard, Rémy Cointreau and LVMH’s Hennessy secured exemptions by agreeing to sell at or above an agreed minimum price.
• Smaller cognac and brandy producers face the full levies, compounding a reported 70% drop in monthly shipments to China.
• EU and Chinese officials have continued negotiations at a scaled-back summit following recent diplomatic talks in Paris.
• The duties are Beijing’s response to EU tariffs on Chinese electric vehicles and add pressure to a €357 billion trade deficit.