30% Tariff
Over the weekend we saw that President Trump issued his letter via Truth Social to the EU for 30% tariffs.
We know that this will come as a shock to our customers who have been operating with 10% tariffs for the past few months and who to some degree were ready to recalibrate their business to absorb 25%.
Our industry advocates have been working hard to lobby Washington to consider carve outs for our industry and the US Wine Trade Alliance joined forces with Napa Valley Vintners WINEAMERICA, The Wine Institute, Wine & Spirits Wholesalers of America, & National Association of Wine Retailers, to send a response to the administration to exclude wine & spirits from all future reciprocal tariffs.
The EU’s response to Trump’s letter is measured, and they have indicated that they are still seeking to reach a final position before 1 August, and our information is that negotiations are ongoing.
Our team is actively working with customers who have goods on the water to assess arrival times to determine the impact on these shipments. We will provide new information as it becomes available.
In addition to the links provided throughout the message, you can find the latest reporting on the announcement below:
French wine and cheese makers say U.S. tariffs would hit hard | Reuters
How tariffs could impact French wine imports | Audio : Wbur
Tuscan winemakers consider diverting exports after Trump tariff threat | The Telegraph
Companies starting to realize tariffs ‘should not be panic-inducing,’ analyst says | Reuters
EU warns that its trade with the US could be effectively wiped out if Trump follows through on his threat |CNN
American Allies Want to Redraw the World’s Trade Map, Minus the U.S. | The New York Times (Paywalled)
EU trade ministers say Trump’s 30% tariffs are “absolutely unacceptable | AP news
E.U. tariffs set to raise pasta and wine prices, threatening jobs on both sides of the Atlantic | NBC News
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