As you’ll already be aware, the US government is currently considering a second round of tariffs on goods, including wine, from France and the rest of the EU. If passed, tariffs of up to 100% could be levied on all wine imported from Europe.
This is linked to disputes over France’s digital services tax, and the WTO’s ruling on the Airbus/Boeing dispute.
The news is deeply concerning for the wine trade in the US and Europe. We have already observed the impact of the 25% tariffs, which were imposed last year, on buying patterns. Wines affected saw a reduced share of trade. The impact of higher tariffs will no doubt be greater.
What you can do
Several outlets have published open letters and comments on this topic. Last week, Vinous published a letter from Antonio Galloni, outlining the potential implications of these policies. It provides interesting reading for anyone intending to submit a comment to the US government in support of the wine trade.
We encourage US readers to join the 15,000+ individuals who have already commented on the government notice relating to products from all EU countries, which is still open. You have until Monday January 13th to comment on the docket.
Liv-ex US members
We have already been helping members in the US, for example with expediated shipping, as a preventative measure. If you have any questions about how we can help you, please speak to your Account Manager who will able to advise.