'Panic' over 100 percent wine tariff threat in US
Chris Mercer - Source: www.decanter.com
Job losses and higher prices for Champagne and other top European wines in the US would be inevitable under 100% import tariffs, US industry leaders have warned as the Trump administration deliberates on its next move.
The US has not said whether extra tariffs will go ahead. Credit: Photo by Yoko Correia Nishimiya on Unsplash
US wine retailers, importers and distributors have rallied to the cause of protecting their sector from import tariffs of up to 100% on a range of European wines, from Champagne to the châteaux of Bordeaux and the vineyards of Piedmont.
‘The proposed tariffs would be the greatest threat to the wine industry since Prohibition in 1919,’ said Benjamin Aneff, managing partner of New York-based Tribeca Wine Merchants, at a government hearing in Washington DC last week.
That 7 January hearing was convened by the office of the US Trade Represenative (USTR) around proposed retaliation for France’s digital services tax, potentially involving tariffs on French sparkling wines at ‘up to 100%’.
In a separate case, which sought public comments by 13 January, the USTR has also raised the prospect of 100% tariffs on most European Union wines in an escalation of a long-running dispute with the EU over subsidies paid to Airbus.
While 100% tariffs would constitute a worst-case-scenario, US officials have not issued a decision and gave no official timeline for action.
However, after 25% tariffs were imposed on some European wines last October, major players in the US have warned that tariffs disproportionately hurt American businesses and wine lovers.
Read the full article at: https://www.decanter.com/wine-news/panic-100-percent-wine-tariff-us-430533/