China imposes anti-dumping duties on European brandy

BEIJING (AP) — China on Friday imposed anti-dumping duties on European brandy, most notably cognac produced in France, as trade tensions between Beijing and United States allies continue to rise. Chinese authorities agreed to exempt some major cognac makers on condition they maintain their prices above minimum levels. The tariffs, effective on Saturday, will range from 27.7% to 34.9%, China's Commerce Ministry said. They are to be in place for five years and will not be applied retroactively. French President Emmanuel Macron said on X that the exemptions for most cognac and armagnac producers are "a positive step towards putting…