• Veblen Wines Ltd

US trade rebounds after tariff confirmation

Rupert Millar - Source: www.thedrinksbusiness.com

Liv-ex has reported that US buying activity on its platform rebounded hugely following the news that 100% tariffs would not be imposed.

Although 25% tariffs on French, German, Spanish and UK wines are being kept, the threat of 100% taxes on all European wines has been shelved (at least for now).

The news from the US Trade Representative and a stronger dollar (against the pound) caused a spike in activity in North America last week, with Liv-ex saying buying was up 200% from the week before.

The figures are made more impressive given how low activity had fallen but it was still an encouraging spark in what has been a slow start to the year.

Read the full article at: https://www.thedrinksbusiness.com/2020/02/us-trade-rebounds-after-tariff-confirmation/