1 week Ago By Finbarr Bermingham
In Paris, Beijing is seen to have blinked. Last week, China paused the imposition of permanent duties on brandy until July, even though provisional tariffs of up to 39 per cent will continue to be collected. Beijing also pledged to return cognac to the shelves of airport duty-free shops, a huge market for French producers.
It was a minor victory, but one that European policymakers are studying closely. With China and the US engaging in a brutal tit-for-tat trade war, Europe is starting to sense that it has a stronger hand in dealing with China, according to several official sources. “China has [a] 125 per cent [tariff] from the US.
It’s completely mind-blowing,” she added..
