China has postponed the conclusion of its anti-dumping investigation of Cognac and Armagnac, providing a reprieve to European spirits makers just as they face tariff threats from US President Donald Trump.
French Foreign Minister Jean-Noel Barrot, speaking during a trip to China, said the announcement was a first step to resolving a dispute that has seen Cognac makers Pernod Ricard SA, Remy Cointreau SA and LVMH’s Hennessy unable to stock duty free channels, a key outlet for their sales in the country. The companies have also been forced to deposit customs duties on the brandy while awaiting the outcome of the investigation.
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