Best Wine Investment Companies
Download Our FREE Investment Guide
The US has announced plans to hike up tariffs on a wide range of products from Europe, including wines from France, German, Spain and the UK.
The World Trade Organisation will allow the US to impose the ad valorem tax of 25% on numerous products, in order to raise US$7.5 billion following subsidies given to aerospace group Airbus by EU members at the expense of US company Boeing.
Wines under 14% alcohol and in containers under two litres will be affected by the tariffs, which are still subject to revision and could yet be increased. Wines over 14% are protected by a loophole in the law, but are already subject to higher US tax brackets anyway.
While the new tariffs have been met with concern from many quarters, they are at least not as high as the 100% tariffs President Trump had previously threatened on social media.