Finance
French cognac industry group calls for de-escalation of US, EU trade dispute
Published by Global Banking & Finance Review®
Posted on April 3, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 3, 2025
1 min readLast updated: January 24, 2026
The French cognac industry calls for de-escalation in the US-EU trade dispute, emphasizing the need to protect wine and spirits from tariffs.
PARIS (Reuters) - The European Union and the United States need to de-escalate their trade dispute and wine and spirits should be left untouched by both sides, said Florent Morillon, the president of the National Interprofessional Office of Cognac (BNIC), a cognac industry group.
"We will very clearly lose market share," he said in an interview with Reuters. "For our region and our entire economy, it is a cold shower."
U.S. President Donald Trump imposed on Wednesday sweeping tariffs on imports, including 20% on products from the European Union.
The cognac industry has also faced pressure from China, which imposed temporary tariffs on shipments of the spirit in October amid a dispute with the European Union over electric vehicles. China and the United States are the cognac industry's most important export markets.
(Reporting by Tassilo Hummel; Editing by Makini Brice)
The main topic is the call for de-escalation in the US-EU trade dispute by the French cognac industry.
The cognac industry urges that wine and spirits remain unaffected by the trade dispute tariffs.
The United States and China are the most important export markets for the cognac industry.
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