French Cognac Shipments to China Slump After Tariffs Imposed
French Cognac shipments to China slid by 75% in December, according to a person familiar with the figures, after tariffs imposed by Beijing accelerated a collapse in demand.
The Chinese tariffs, which took effect on Oct. 11, followed the European Union 's decision to move forward with added duties on Chinese-made electric vehicles. The new levies have made a visible impact on French Cognac exports, dragging down shipments to China by 9.6% for the full year, a representative for the Cognac lobby BNIC said Tuesday by email.
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