Chinese and French presidents tackle cognac tariffs in phone call: Macron

China and France have agreed to move quickly to resolve a trade dispute over cognac tariffs, French President Emmanuel Macron said after a phone call with his Chinese counterpart, Xi Jinping, on Thursday.

“We have agreed to move forward as quickly as possible on the issue of cognac, which is essential for our producers,” Macron wrote in a post on social media.

Speaking to Xi ahead of the French leader’s departure for Southeast Asia on Sunday, Macron said he reaffirmed that Chinese investment in France was welcome, but that companies must enjoy fair competition in the two countries.

“I reaffirmed France’s desire to continue building a strong economic relationship with China. In this regard, Chinese investments are welcome in France. Our companies must therefore benefit from fair competition conditions in both our countries. This is a key point,” Macron wrote in his post.

French cognac has been subject to a Chinese anti-dumping investigation into European Union brandy since January. The investigation was extended in April, giving EU exporters more time to find a way to avoid Chinese penalties.

The Chinese statement on the phone conversation did not refer to cognac.

South China Morning Post