OREANDA-NEWS France has not yet been successful in negotiating with China to eliminate customs duties on cognac, according to the head of the French Ministry of Finance, Eric Lombard.

The economic discussions have not yet resulted in a final resolution of this dispute, but I can confirm that the door for further negotiations remains open, as I learned from my conversation with He Lifeng, the Vice Premier of the People's Republic of China. This issue is of utmost importance to France, Lombard stated after the talks in Paris.

According to the minister, the exports of cognac to China amount to 1.4 billion euros annually.

In early October, the Ministry of Commerce of the People's Republic of China announced the implementation of temporary anti-dumping measures against cognac and brandy imported from the European Union. The customs duties on cognac may reach 35%.

According to European news outlets, China's actions were a reaction to the European Union's inquiry into Chinese electric cars. On October 4, the European Commission confirmed that the EU had approved the previously proposed duties on electric vehicles from China, with rates ranging from 36.3% depending on the manufacturer.

In March, China announced that it had once again delayed the deadline for the completion of the anti-dumping investigation into alcohol imported from the European Union, which was scheduled to begin on January 5, 2024, after which duties would be imposed.