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France News Today

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Saturday, November 23, 2024

Cognac Producers Protest Chinese Tariff Threat

Published: 2024-09-17

Over 500 cognac producers and winemakers took to the streets to protest against potential Chinese tariffs on European wine spirits.

This demonstration, organized by the Union of Cognac Winemakers (UGVC), highlights the growing tension between the European Union and China over electric vehicles.

The Chinese government has threatened to impose additional tariffs, potentially up to 35%, on European brandies, which could severely impact the cognac industry.

Cognac exports to China account for a quarter of the industry's market, and such tariffs could lead to significant job losses and economic downturns in the region.

The industry, already suffering from a 22% drop in sales in 2023, fears being caught in the crossfire of this trade dispute.

Industry leaders are urging the EU to take action to prevent these tariffs, which they argue unfairly target their sector in favor of Chinese electric vehicles.