China Rejects Tariffs on EU Brandy Imports

China has decided not to impose tariffs on brandy imported from the European Union, despite a preliminary investigation finding significant dumping by European distillers, which harmed China's domestic industry. This decision offers a respite in ongoing trade negotiations, particularly as China continues to lobby EU member states against imposing additional tariffs on Chinese electric vehicles. Following the announcement, shares of French spirit companies like Remy Cointreau and Pernod Ricard rose significantly, while Italy's Campari saw its trading halted due to stock surges. Pernod Ricard's CEO expressed a cautious outlook on the Chinese market despite the favorable decision. Furthermore, China has initiated anti-subsidy investigations into EU dairy and pork products, coinciding with the EU's revised tariff plans for Chinese EVs. The situation remains under close observation as both sides navigate these complex trade issues.