PARIS: French President Emmanuel Macron said Thursday he told Chinese leader Xi Jinping that companies from both countries “must enjoy fair competition”.
“Chinese investment is welcome in France. But our companies must enjoy fair competition in both countries,“ Macron wrote on X following talks with Xi.
“We agreed to move forward as quickly as possible on the issue of cognac, which is essential for our producers,“ Macron added.
Macron and Xi spoke by phone amid trade tensions between the European Union and China.
European exports of brandy to China have been hit with duties since October after the European Union imposed tariffs of up to 35.3 percent on Chinese electric vehicles over claims of unfair competition.
China is a major market for French cognac, with exports worth 1.4 billion euros ($1.6 billion) per year. The anti-dumping measures are costing the industry 50 million euros per month.
The European Union has imposed hefty tariffs on Chinese-made electric cars after a probe found Chinese state subsidies were undercutting European automakers.
The talks between the two leaders follow Chinese Vice Premier He Lifeng’s visit to France last week, during which he called for “a more fair, just and predictable business environment”.
