Overview

• Officials expect US executive orders and a joint statement by Friday to formalize the 15% tariff cap on most EU goods, effective August 1.
• Negotiators plan further talks in autumn to secure zero-tariff carve-outs for wine and spirits currently slated for the 15% rate.
• The European Commission has signaled it will freeze €93 billion in retaliatory duties due August 7 if the framework deal is fully implemented.
• US distillers led by DISCUS say spirits were excluded from the agreement and are lobbying for a restoration of zero-for-zero tariffs.
• Industry groups forecast higher consumer prices and reduced demand, citing Canada’s 12% drop in liquor sales and $500 million in lost spirits revenue.