Companies should get pleasure from honest probability, Macron tells Xi

French President Emmanuel Macron stated he advised Chinese chief Xi Jinping that corporations from each international locations “must enjoy fair competition”.

“Chinese investment is welcome in France. But our companies must enjoy fair competition in both countries,” Mr. Macron wrote on X following talks with Mr. Xi.

“We agreed to move forward as quickly as possible on the issue of cognac, which is essential for our producers,” Mr. Macron added.

Mr. Macron and Mr. Xi spoke by telephone amid commerce 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 as much as 35.3% on Chinese electrical automobiles over claims of unfair competitors.

China is a significant marketplace for French cognac, with exports price €1.4 billion ($1.6 billion) per yr. The anti-dumping measures are costing the business 50 million euros monthly.

Hefty tariffs

The European Union has imposed hefty tariffs on Chinese-made electrical automobiles after a probe discovered Chinese state subsidies had been undercutting European automakers.

The talks between the 2 leaders observe Chinese Vice Premier He Lifeng’s go to to France final week, throughout which he known as for “a more fair, just and predictable business environment”.