Since October 11, EU tariffs on Chinese electric vehicles have triggered reciprocal duties on European brandy exports to China, devastating French cognac producers who rely heavily on this market. With cognac accounting for 98% of their sales, the BNIC reported a 50% drop in monthly shipments, risking over 70,000 jobs tied to this industry. As the agricultural fair in Paris approaches, calls for political resolution grow louder, with producers urging direct government action to mitigate the damage and uncertainties posed by potential US trade policies under a returning Donald Trump.
These punitive measures have already caused a 50 percent drop in our monthly shipments, affecting an industry that supports more than 70,000 jobs.
It’s an entirely political issue and it can only be resolved politically, urging the need for government intervention in the trade dispute.
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