The U.S. President's tariffs threaten to impose a 200% duty on European wines as a response to anticipated EU tariffs on U.S. products. This could severely impact the wine industries in France, Italy, and Spain, especially smaller producers. Wine grower David Levasseur expressed concern over the potential halt of exports to the U.S., labeling the situation as one of significant trouble. Gabriel Picard from the French Federation highlighted a potential loss of the $4.3 billion market, deeming it a 'hammer blow' to the industry. Retaliatory tariffs perpetuate a looming trade dispute between the U.S. and Europe.
"It means I'm in trouble, big trouble. We hope it's just, as we say, blah blah," Levasseur said, standing in his Champagne house as he swilled a flute of his vineyard's bubbly.
"It could be a real disaster," Levasseur said.
"With 200% duties, there is no more market," Picard said.
"a hammer blow" for France's industry, whose wine and spirits exports to the U.S. are worth 4 billion euros ($4.3 billion) annually.
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