Major Cognac companies made concessions to avoid the worst of the penalties, imposed by Beijing in retaliation for E.U. tariffs on Chinese electric vehicles.

China has imposed anti-dumping duties on European brandy, most notably cognac produced in France. The tariffs announced Friday will range from 27.7% to 34.9% and take effect on Saturday.

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.

Chinese Foreign Minister Wang Yi told the European Union’s top diplomat that Beijing can’t accept Russia losing its war against Ukraine as this could allow the United States to turn its full attention to China,

Russia cannot afford to lose the war in Ukraine, China has warned. Wang Yi, China’s foreign minister, said Beijing does not want to see a Russian loss because of fears the United States would then shift its focus on to China.

During a high-level meeting with European Union (EU) officials, China’s Foreign Minister Wang Yi reportedly told EU foreign policy chief Kaja Kallas that China cannot afford for Russia to lose the war in Ukraine.

The administration of US President Donald Trump has lifted restrictions on exports of chip design software to China, as Washington and Beijing work to dial down hostilities as part of a recent trade agreement.

Siemens has received notification from the US government allowing it to resume sales of chip design software to China, the German technology company said, as a trade deal between Washington and Beijing takes effect.

President Donald Trump’s administration has lifted recent export license requirements for chip design software sales in China, as Washington and Beijing implement a trade deal for both countries to ease some restrictions on critical technologies.