Overview
- A preliminary trade deal between the U.S. and EU establishes a 15% baseline tariff on most EU goods entering the United States while alcohol carve-outs remain to be negotiated.
- EU and U.S. industry heads such as Chris Swonger and Ursula von der Leyen have expressed optimism that wine and spirits will secure mutual zero-tariff treatment.
- Bordeaux exporters report a 50% drop in turnover this year and cognac maker Remy Cointreau warns of €45 million in tariff-related losses.
- The Comité Européen des Entreprises Vins cautions that any final tariffs could force price increases or drive some EU producers out of the U.S. market.
- To counter uncertainty, some wine merchants are stockpiling inventory and flying the most expensive bottles by air to preserve U.S. sales.