China Launches Anti-Dumping Probe into European Brandies, Targeting Cognac Imports Amid Souring Trade Relations
• China launches anti-dumping probe into European brandy imports, could dampen demand and be seen as "taboo" by officials • French cognac hit hardest as it makes up most of China's imported brandy; signals a blow to China-EU trade relations • Industry concerned probe could expand to target other European wines; China-EU tensions rising in other sectors too • Chinese tastes shifting from cognac to domestic baijiu liquor over past decade among officials and business elite • As cognac discounts rise ahead of Lunar New Year, domestic brands and non-European wines stand to gain market share