Cognac industry is 'saved', says French foreign minister after China talks

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  • Cognac industry is 'saved', says French foreign minister after China talks

France on Friday praised China's steps to settle a trade dispute over European brandy imports. The signs of a thaw in the row over the alcohol came as China's Foreign Minister Wang Yi met French President Emmanuel Macron and Foreign Minister Jean-Noel Barrot in Paris.

In recent months China and the European Union have butted heads over Beijing's generous subsidies for its domestic industries. In the latest salvo, China will from Saturday require European brandy exporters to raise prices or risk anti-dumping taxes of up to 34.9 percent. Beijing said 34 European brandy makers, including several French cognac producers, had signed an accord to avoid tariffs as long as they stick to an agreed minimum price.

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