Wine Spectator: Trade War Is Hurting U.S. WineriesJune 7, 2019
American wine, beer, and spirits producers are worried. Trade disputes between the U.S. and China, Mexico, and the European Union are all impacting their businesses. And there’s no end in sight to the battles.
“We might be driving off a cliff here,” said Ridge Vineyards president David Amadia. He was speaking about the latest round of tariffs the Chinese government has imposed on American wine. As part of an ongoing trade war between the administration of President Donald Trump and the People’s Republic, tariffs on U.S. wine exported to China have been creeping up for the past year.
China’s latest round of retaliatory tariffs, which went into effect June 1, put an additional 15% levy on American wine, bringing the total tariffs to 54%, on top of an existing tax of 37%. That means U.S. wines will soon cost 91% more in China than they do at home. Wine Spectator has a full report.—Emma BalterSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.