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4w ago

U.S. Tariff Decision Looms as Trade Tensions with EU Threaten Italian Wine Exports

With a major U.S. tariff announcement expected April 2, Italy and the EU push for diplomacy to avert economic fallout from a proposed 200% tariff on European alcohol.

Bottles of Italian wine are stored in a fridge inside the wine shop Kabb in Rome, Italy, March 14, 2025. REUTERS/Remo Casilli/File Photo
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Overview

  • President Trump has proposed a 200% tariff on European wine and spirits in response to EU threats of retaliatory tariffs on American goods, including bourbon whiskey.
  • The White House is set to announce a key decision on tariffs on April 2, with potential significant impacts on EU alcohol exports, particularly from Italy and France.
  • Italy's agriculture minister, Francesco Lollobrigida, expressed hope for a diplomatic resolution, emphasizing the U.S. as an indispensable market for Italian wine exports.
  • Italian trade group Federvini reported a slowdown in wine and spirits exports to the U.S. due to uncertainty over the potential tariffs, which threaten an industry contributing over 1% to Italy's GDP.
  • The EU has delayed its retaliatory tariffs until mid-April to allow time for negotiations, while Italian wine leaders lobby to exclude wine from the EU’s tariff response list.