European Cognac Giants Face Beijing Anti-Dumping Panel

Leading European cognac producers Martell, Remy Martin, and Hennessy will attend a hearing on China's anti-dumping probe in Beijing. The hearing, taking place on July 18, comes amid rising tensions between the EU and China. The industry is cautiously optimistic as officials from both sides prepare to negotiate.

In a significant development, leading European cognac producers, including Martell, Remy Martin, and Hennessy, will attend a hearing on China's anti-dumping probe in Beijing on July 18. This marks the first opportunity for these industry giants to present their case in person.

According to an industry source, companies behind these major brands received summons overnight, indicating a critical juncture in the ongoing investigation that began earlier this year. The source further suggested that while the industry is willing to cooperate, it firmly believes there is no dumping and hence no basis for additional duties.

This hearing coincides with the European Commission's provisional tariffs on Chinese electric vehicles taking effect, intensifying the trade discord. French cognac makers contend that the probe is more about broader trade tensions than actual market conditions. Despite the cautious optimism, the final verdict will hinge on political negotiations between Beijing and Brussels.

(With inputs from agencies.)