Eric Asimov, The New York Times, reports:
the last month has passed in a blur of fear and dread as the industry contemplates the Trump administration’s threat to impose 100 percent tariffs on all wines imported from the European Union, along with a variety of other goods including foods, spirits and clothing.
Make no mistake, a tariff of that size, or any number close to that, would be catastrophic for Americans in the beverage and hospitality industry. A 100 percent tariff would double the price of wines in shops and restaurants, with disastrous ripple effects.
Consumers may be furious if confronted with a $25 bottle of Fleurie that has doubled in price to $50. They will have to adapt, or drink wines from somewhere else. But that hardly matters when compared with the American jobs that may be lost and the businesses that could be threatened if the tariffs go into effect.
The fear does not stop with importers. An entire chain of businesses are built around the acquisition and sale of European wines and foods, from distributors to retail shops and restaurants, and all the associated workers — not to mention dock labor, forklift drivers and others.
(click here to continue reading Wine Business Fears a Possible Disaster in Potential Trump Tariffs – The New York Times.)
The Dotard is about to fuck up another industry. Granted, he claims to have never had a drink, but I imagine Trump properties like Mar-A-Lago and Trump Hotel etc. make a lot of their annual profits on selling 1%ers and hangers-on overpriced bottles of European Union wine.
A favorite local independent grocery (Green Grocer Chicago) said this in their newsletter yesterday:
Please be aware that the current administration is considering putting 100% tariffs on wine imported from the European Union on JAN 14 (next week!)
If this actually is enacted, it will change the wine industry in fundamental ways for all companies in the space (producers, distributors, and retailers like us).
If this comes to be we will have to tilt our portfolio towards wines from other areas such as South Africa, South America, and of course the good old USA that offer affordable wines at prices our customers like to purchase at.
My suggestion: stock up on Rioja, Chianti, Bordeaux, and other good wines from Europe this weekend!
Hmm, probably Cognac too. Damn it.