15 Aug Will The US-EU Tariff Dampen The Wine And Spirits Sector
Whilst the EU was hopeful that wine and spirits would be excluded from the 15% tariff outlined by Trump, it has now been confirmed that these products will also be subject to the same rate.
With the US the largest market for many European wine and spirit makers, and Europe a major export destination for U.S. spirits like bourbon, the impact of this tariff is likely to be significant.
According to a group of 57 alcohol industry groups this tariff could reduce the value of alcohol sales by almost $2 billion and put 25,000 U.S. jobs at risk, increase menu prices, damage American businesses and exacerbate any existing problems and challenges.
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