China will impose 84% tariffs on US goods from tomorrow (10 April), up from the 34% previously announced, in a move which looks to further de-stabilise global markets and consumer confidence in sectors such as wine and spirits.
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Jens-Peter Barynin, chief economist at VIVI Economics, charts the potential impact of an escalating trade war driven by the Trump administration
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Thanks to “Trump 2.0, tariffs are coming. It’s not a matter of if, but when”, WSTA chief executive Miles Beale said at a standout Wine Paris conference, where leading industry figures gathered to discuss how to manage and offset mounting geopolitical tensions and trade wars on the global wine trade.
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The EU’s announcement of a slate of retaliatory tariffs from 1 April on certain US imports has included a 50% tariff on American whiskey and other US spirits. The decision was part of the institution’s response to the Trump government’s recent tariffs on European steel and aluminium.
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Barring a near-miracle, it is now highly unlikely that the current UK government will make permanent the temporary duty easement that is ending this coming 1 February. Speaking with Andrew Catchpole for the first of a two-part Soapbox, Miles Beale of the Wine & Spirit Trade Association (WSTA) – who campaigned tirelessly on that matter and helped galvanise the trade – says it’s time to learn the lessons from this “incredibly disappointing” outcome and look ahead to the key bumps coming down the road in 2025. The trade can, he argues, force through more positive and desirable outcomes in the near future, if it pulls together in a similarly galvanised way.
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Wine tariffs introduced as part of a transatlantic dispute on aeronautics have provided something of a boost for Italy on the secondary market, with the value of the country’s top wines increasing by an average of 12.5% during 2019 on a leading UK platform.
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The USA’s threat of slapping 100% tariffs on US$2.4 billion worth of French imports including wine and Champagne seems to have been put on hold after the countries’ leaders announced a ceasefire on Twitter.
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Tariffs on French wine entering the US could be subjected to 100% tariffs, authorities have warned, following an investigation into whether a new technology tax in France unfairly targets American companies.
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What attracted me to wine journalism nine years ago was that the stories were about the wine and the people, not cocaine-fuelled celebrity mishaps or sexual exploits involving a reverse osmosis machine. The beauty of wine was that, by and large, there was no 'news.'
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UK Prime Minister Boris Johnson has urged US President Donald Trump to lift tariffs on Scotch whisky.
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Bruno Le Maire, France’s minister of finance, has rejected a threat from US President Donald Trump to impose a levy on imports of French wine into the US.
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The latest Wine Intelligence research delves into the changing patterns of global wine buying and consumption, revealing some unexpected trends.
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