On Thursday, the long-awaited news of what tariffs would hit European wine and spirits finally arrived. Starting August 1, all EU wine and spirits imported into the United States will face a 15 percent levy, though further negotiations are expected to continue in the fall.
The news comes on the heels of Sunday’s announcement that the EU and U.S. had reached a trade deal implementing a set 15 percent tariff rate on most industries. Notably absent from the initial announcement was any mention of exemptions for wine and spirits, sparking hopes that industry groups would be able to continue their push for a more favorable outcome. For now, those hopes are slashed until the autumn when ongoing EU and U.S. negotiations on agricultural products are set to pick back up.
