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The USA, new possible tariffs likely to affect EU wine from 2020 frighten producers

In 2018, wine exports from European countries to the United States amounted to 3.8 billion euros (Eurostat data). All European Union wines at risk
TARIFFS, TRUMP, USA, WINE, News
USA, new possible EU wine tariffs from 2020 frighten producers

The threat of possible new duties introduced by the U.S., ranging between 25% and 100%, which could come into force in 2020, after the consultation launched by the United States Trade Representative which will close on January 13, is alarming producers in Italy and Europe, partially already affected by the first wave of tariffs in force since October (which affect, to the extent of 25%, still wines below 14 degrees of alcohol in France, Germany and Spain, Italy is so far safe). The news, reported by WineNews a few days ago, immediately came to the fore of the main concerns of many Italian producers, and in a few hours won the openings of all international wine magazines. The extent of duties, which could affect all types of wine, which, for Italy and not only, is the most important market in the world, does not relief tension. Also, or above all, after the victory of the Boris Johnson Conservatories in the UK, with Brexit coming, therefore, in January, which could already complicate things in another fundamental market, and with Trump which, moreover, toasted the British result, opening the possibility of a strong trade agreement with the United Kingdom. All this while from China came the news of the suspension of duties that would come into force these hours on U.S. products, with the United States which in turn suspended tariffs at 15% on almost 160 billion dollars. Perhaps a sign of easing that, hopefully, could also extend to the U.S. issue, officially linked to the Airbus-Boeing dispute. However, according to other reports, there could also be a triangle between the U.S., China and Great Britain from which the EU could come out strongly penalized, with the agri-food sector, wine in the first place, but not only, which would be playing a game led by many other forces on the field. A game in which, for European wineries, imported figures are played: of the 22.7 billion euros of wine exported by European producer countries in 2018, the United States was the main buyer and weighed for 3.8 billion euros, 33% of all wine exports to non-EU countries, according to recent data from Eurostat. Losing market shares and margins in the American market due to possible tariffs, therefore, would have very serious consequences for the entire European and Italian wine sector.

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TAG: TARIFFS, TRUMP, USA, WINE

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