LONDON (Reuters) – Leading European cognac producers will attend a hearing on China’s anti-dumping probe of the industry in Beijing on July 18 – their first chance to defend themselves in person since the investigation began earlier this year, an industry source said.
Companies behind major brands Martell, which is owned by Pernod Ricard, Remy Martin – part of Remy Cointreau – and Hennessey, owned by LVMH, received a summons overnight to attend the hearing, the source said, asking not to be named because they were not authorised to speak on behalf of the industry.
China announced plans on Friday for the hearing on European brandy imports, ramping up tension on the same day the European Commission’s provisional tariffs on Chinese-made electric vehicles take effect.
Beijing announced its anti-dumping probe on EU brandy in January, saying European brandy producers were selling into China at below-market rates.
France’s cognac makers said that while they would cooperate with the investigation, they suspected the probe was linked to a broader trade row rather than the liquor market.
The companies producing Martell, Remy Martin and Hennessey cognac were selected as sample firms for the investigation.
The industry had previously signalled its willingness to participate in such a hearing, the source added, saying representatives of the companies would attend to answer questions.
They may also be able to make their case against tariffs, the source said.
(Reporting by Emma Rumney; Writing by Josephine Mason; Editing by Jason Neely and Helen Popper)
Comments