Wine merchants are right that tariffs hurt Americans; does Donald Trump care?

Published 2024년 11월 22일

Tridge summary

American wine industry professionals are expressing concern over the potential return of wine tariffs under a second Trump administration. They are engaging lobbyists and lawmakers to argue against tariffs, highlighting the negative impact on American businesses. If tariffs are imposed, consumers, wineries, and importers could face increased costs, with potential negative effects on an already declining wine market. Meanwhile, the incoming administration is considering across-the-board tariffs on all foreign goods to protect domestic industries, which could further increase prices for consumers. The exact impact of these tariffs on the economy and the wine industry remains uncertain.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the days since the U.S. presidential election, American sommeliers, wine importers and wine store owners have been preparing for battle. Regardless of their political affiliations and preferred candidate, they now face a common fear—the return of tariffs on wine. You might remember that in 2019, during the first Trump administration, the White House slapped 25 percent tariffs on wines from France, Spain and Germany. American wine importers paid $239 million dollars in tariffs over the next 18 months. The administration also considered imposing 100 percent tariffs on European sparkling wine. So it’s understandable that those companies are gearing up to try and prevent new tariffs. They have hired some of the best lobbyists in Washington. They’re appealing to members of Congress. They’re explaining why tariffs on European wines actually hurt Americans. Their arguments are correct. But I fear that won’t make a difference. A tariff is a tax on an imported good. When the product, ...

Source: Winespectator