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.

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.

The United States has lifted restrictions on exports to China for chip design software developers and ethane producers, a further sign of de-escalating U.S.-Sino trade tensions including concessions from Beijing over rare earths.

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.