The U.S. is facing a potential 200% tariff on European wine, Champagne, and spirits, following a threat from President Trump in retaliation for a planned 50% tariff by the European Union on American whiskey. Importers warn that such a tariff would severely impact the U.S. wine industry, making European wines too expensive for most consumers. Wine importers and retailers, like Jeff Zacharia from Zachys, have paused purchases due to uncertainty around the tariffs. In 2023, European wines accounted for 17% of U.S. alcohol consumption, with Italy and France making up a significant share. The U.S. imports much more alcohol than it exports, with European wines and spirits making up a major part of the $26.6 billion in imported alcoholic beverages. A 200% tariff is seen as extreme, with previous examples like China's 218% tariff on Australian wine causing major losses. The tariff dispute stems from a trade war initiated over steel and aluminum tariffs, with European taxes on American whiskey set to begin on April 1. Trump's threat could hurt both the European wine industry and U.S. consumers, as prices may skyrocket. In response, Italian and French wine producers have warned that such tariffs would halt exports entirely. While some U.S. wine retailers are offering discounts before any potential price increases, others are uncertain about the outcome and have refrained from commenting on the situation. (ICE TORONTO)

Fonte notizia: https://www.theglobeandmail.com/investing/markets/indices/TTCS/pressreleases/31396865/us-wine-shops-