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China applied an impairment European brand positions To release large cognac manufacturers who are committed to maintaining their prices above the minimum levels for five years.
According to a EU, the duties of 34.9% will be applied to the European brand transport from Europe on July 5 statement From the Chinese Ministry of Commerce. According to the ministry, it is applied to those who meet the valuable commitment of freedoms.
Three large cognac manufacturers – Remy Cointreau SA, Pernod Ricard SA and LVMH are among the producers who agreed to comply with China with China. Aranjman comes as part of a partial fame for companies that see the intestinal shipments to Cognac after Pekin’s previous tasks last year.
“The minimum price obligation regime is the definitive anti-Morillon, Florent Morillon, Konyak Morillon, Cognac Manufacturers’ Union President BNIC, announced that the minimum price. The group will continue to restore unimpeded access to the Chinese market.
The terms of the Price Agreement said in the statement of “Remy Cointreau, not a significant more favorable result or at least, a fewer penalty alternatives.” While waiting for more information to evaluate effects, it is expected to be more restrictive than expected when the effect is in June.
The company’s shares were beaten by 7.2%, LVMH and Pernod Ricard.
Hennessy representative refused to comment on the issue, Pernod did not comment immediately.
Macron Meeting
By accepting the minimum prices, these cognac manufacturers can participate in the Chinese market without loading additional tasks. “This is a clear decisive decision, because China is a market for a significant part of global sales,” he said.
The tariffs in Brandy praised the duties of Levil last year to 45% of the Chinese-made electric vehicles. China has twice postponed the consequence of the cognac probe because the two sides tried to solve the Iskat and the house in the house and others.
Chinese Trade Minister Wang Weao visited France in June, the EU discussed two issues with the Commissioner Commissioner. Foreign Minister Wang Yi is scheduled to meet with French President Emmanuel Macron on Friday.
The French Minister of Industry Marc Ferracci, Bloomberg Television is important to deliberate on Friday, Tariff battles, cognac and other goods. “Commercial wars are not only the damage, so we should not be pleased with the announcement by China today – some agreements can be found.”
Tensions between two trading partners are far from facilitating on the Chinese revoke Bloomberg News is part of the two-day summit with European Union leaders, the last time this month.
