Trump duties at 25% would cost 1 billion euros to Italian wine, in the Usa, and not only

Duties at 25% on EU wares, “cars and all the other”, announced by Trump, who confirmed the promises made during the campaign (as we reported here), also messed up the Italian wine & food world, which, in the USA, has a primary and fundamental partner. And, if American duties also hit wine, for Italy, the account would be close to 1 billion euros only for export. This is the impact estimated by Unione Italiana Vini (Uiv) talking about “a concentric circle effect starting from the USA – where the estimated direct loss would be around 472 million euros for a balance, compared to the last year, at -25% - and it enlarges to countries directly affected from new tariffs, for which, economic slowing downs are foreseen, if not a recession as in Germany. In Canada, Italian exports could close the balance at -6%, while, in the European Union, the estimates attest at -5% for a sale with a negative value of 216 million euros. Between the Usa, Canada, and Eu which constitute 80% of the export value of Italian wine, the balance of the mobile year (from April 2025 to April 2026) would close at -716 million euros (-11%). The total of exports towards the rest of the world, according to Uiv, would see, in the end, a symmetrical contraction which would bring the deficit between 2024 and 2025 to -920 million euros. All at the net of the internal market, which, during the mobile year, it would undergo a further contraction for about 350 million of euros corresponding to 5% of consumption”.
“To remain the Usa market, which is worth for us about 1.9 billion euros, and 24% of the total export of the sector, we appeal to our American partners  - said the president of Unione Italiana Vini Lamberto Frescobaldi -  importers and suppliers. The aim is to come together as a team in order to amortize together the surplus of costs deriving from the commercial war. We realize that this sacrifice would not be easy to carry out, and it would determine anti-economical dynamics in the short term, but the imperative is to save the market and the special bond with US consumers anyway. The hypothesis of duties at 25% would determine an almost complete exit from the market, which could be worse compared to the above-mentioned sums. During this month that separates us from the decisions which will be adopted by the American administration – concluded Frescobaldi – we ask for the maximum effort to Italian and European diplomacy so that a negotiation about commercial relationships with the US will be undertaken starting from now. Wine must be “in the small suitcase” of the proposals by EU Commission regarding the commercial rebalance between the two blocks”.