UPDATE 6-China spares major cognac makers from EU brandy dumping duties

News Snapshot:

China spared major cognac producers Pernod Ricard, LVMH and Remy Cointreau from hefty duties on EU brandy on Friday, a rare bright spot at a time of trade tensions between Brussels and Beijing as the two sides row over tariffs on Chinese-made EVs. China will from Saturday levy duties of up to 34.9% for five years on brandy originating in the European Union, most of it cognac from France, the Chinese Commerce Ministry said in a final ruling of an investigation lasting more than a year. But most of France's cognac industry including big brands LVMH-owned Hennessy and Remy Martin...