Space News from SpaceDaily.com
French cognac exports to China slump as tariffs bite
ADVERTISEMENT


Bordeaux, Feb 4 (AFP) Feb 04, 2025
Cognac sales to China dropped 24 percent in value last year after Beijing imposed tariffs on EU brandy imports amid trade tensions with the European Union, an industry body said Tuesday.

Brussels angered the Chinese government last year by imposing tariffs of up to 35.3 percent on Chinese electric vehicles over unfair competition claims.

In response, Beijing set what it called "temporary" tariffs on brandy last October, hitting France's cognac makers in particular, who rely on exports for 98 percent of their sales.

"The Chinese taxes imposed since October 11 have already had a very significant impact on our exports to China," the BNIC association of cognac producers said.

It said the number of bottles sold to China fell by 9.6 percent last year, representing a loss of 23.8 percent in value.

Overall cognac exports fell 10.6 percent by value to around three billion euros ($3.1 billion), "in a global geopolitical and economic context affecting the entire liquor sector".

Exports to the North American market fell 1.5 percent by value, as European nations brace for the threat of new tariffs by US President Donald Trump, who over the weekend confirmed tariffs against Chinese, Canadian and Mexican imports -- though he later delayed them for Canada and Mexico.

During his first term, Trump in 2019 imposed 25 percent tariffs on a range of European food products, including French wine.


ADVERTISEMENT





Space News from SpaceDaily.com
Meteor collision shakes Mars recorded by InSight
Scientists measure Earth's cosmic detectability
Space experiment aims to reveal hidden cosmic mass

24/7 Energy News Coverage
Robots Enhance Sewer Inspection and Maintenance with AI
Role of barrier films in maintaining the stability of perovskite solar cells
Zero Emissions Process for Truly Biodegradable Plastics Developed

Military Space News, Nuclear Weapons, Missile Defense
EUSPA unveils integrated GNSS and secure SATCOM user technology update
Trump trade threats overshadow European defence meet
U.S., local officials say 'no specific credible' terror threats exist for upcoming Super Bowl

24/7 News Coverage
NASA radar imagery highlights expanding landslide activity in Los Angeles
GHGSAT Selected as Copernicus Contributing Mission by ESA and EU
Asteroid Bennu comes from a long-lost salty world with ingredients for life



All rights reserved. Copyright Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.