What happened? The Chinese Ministry of Commerce has published a QandA between reporters and its spokesperson regarding talks between Minister Wang Wentao''s and EU Commissioner for Trade and Economic Security, Maros efčovič. Below we outline a translation of the key QandA regarding the EU Cognac anti-dumping investigation: Q: What are the new developments in the brandy anti-dumping case, and have China and the EU reached an agreement on the price commitment? We noticed that Minister Wang Wentao also met with French European and Foreign Trade Minister Delegate Franck Riester in Paris, did they discuss the case with the French side? A: Minister Wang Wentao and Commissioner efčovič had a friendly and candid exchange of views on the brandy case, and also briefly informed the French side of the relevant progress. Currently, French companies and related associations have proactively submitted price commitment applications to the Chinese side, and the Chinese investigating authorities have reached an agreement with them on the core terms of the price commitment. The Chinese side is reviewing the full text of the price commitment, and if the review is passed, it is planned to release the final ruling announcement containing the price commitment text before July 5. China has fully demonstrated its sincerity in resolving China-EU trade disputes through dialogue and consultation and also hopes that the European side will work with China to properly address China''s concerns and create conditions for further expanding China-EU cooperation. BNPP Exane View: Details of the price commitment are not yet available. While being forced to take up prices in the current very weak underlying demand context would be far from ideal, we nevertheless we view the development as a positive for names with China Cognac exposure given that: 1) the news appears to suggest tariffs can be avoided; 2) the price commitment terms were proactively submitted by the Cognac players /...