Tag: $Remy Cointreau

China spared major cognac producers Pernod Ricard (PERP.PA),LVMH (LVMH.PA), and Remy Cointreau (RCOP.PA), from new duties of up to 35% on EU brandy on Friday, easing trade tensions with Brussels as Beijing seeks to resolve a separate row over tariffs on Chinese-made EVs.

China imposed temporary anti-dumping measures on imports of brandy from the EU on Tuesday, hitting French brands including Hennessy and Remy Martin, days after the 27-state bloc voted for tariffs on Chinese-made electric vehicles (EVs).

Shares of several French cognac makers rallied on Tuesday after France’s President Emmanuel Macron suggested that trade tensions between China and the European Union, which could impact the drinks makers, may ease.

China has opened an anti-dumping investigation on brandy imported from the European Union, a step that appears to be mainly targeted at France and adds to ongoing trade disputes between Beijing and Brussels.

PARIS, July 25 (Reuters) – French spirits group Remy Cointreau (RCOP.PA) on Tuesday reported a fall in first-quarter organic sales, reflecting weaker U.S. demand, high year-ago comparables and destocking, and said it was banking on a sharp rebound in sales in the U.S. from the third quarter.

.