Alexander Michas, Vintus president and COO, joins CNBC’s ‘Squawk on the Street’ to discuss how the wine business may be impacted by President Trump’s proposed 200% tariffs on imported alcohol, whether they would be able to front-load inventory, and more.
20 Comments
So my $15 bottle of Italian wine will cost $45. How does this solve the egg 🥚 prices for his MAGA Cult? ABSOLUTELY RIDICULOUS
WIne markup is a joke anyways, 100s dollar for a bottle is laughable
Come to the great white North we will have in abundance. We promise not to rip you off haha
The part Trump and his trailer park voters don't realize is this will not increase demand for US products, because US producers are going to raise their prices to be just below what we were getting from other countries. If China sells a widget for $10, and the US producer can only make it at $12… if we put tariffs on China that raise their prices to $20, then american companies are not just going to keep their prices at $12, they are going to raise them to $19. So now instead of paying $10 or sometimes $12 for the widget, you are paying $19. And at that $19 price point, the US manufacturer is going to be more profitable, but demand will decrease, so no jobs will be created from their sudden windfall. Consumers are not going to buy as many widgets overall if the price goes from $10/$12 to $19/$20.
Trump is intentionally creating a recession.
Watch crime rise as alcohol begins to be smuggled in.
The USA needs to realise that it’s a small market for European wines, about 5% of total production, American bourbon sells over 25% of its production to the EU, it isn’t hard to work out which country’s industry is going to suffer.
Trump bankrupting this guy😢
What do you expect when Biff Tannen and his court jester Musk run US economy
Costco box 🍷🎉
With wine prices scheduled to increase due to Trumps tariffs, are there any great home brewing recipes out there, for a fraction of the cost? Please respond.
I don’t drink
You mean the convicted FELON, 6 times bankrupt business man is a freaking IDIOT??!! This was what clowns 🤡🤡voted for.
Next….ban overseas travel. Make Americans spend domestically…..make tons of money😂
Good job trump
He is not going to make america great again but he is definitely going to make Europe stronger and more unified together with our canadian friends and all other countries who take clear stand against the bullying and arrogance from over there.
The tectonic plates are shifting and while we united to defend a rulebased world order with mutual respect and gains, America can keep implode in internal conflicts , die from obesity, crime, fentanyl or poverty while gaslighting their constituents that they are on the way on a new golden era even though they get poorer and poorer, more and more uneducated and irrelevant.
American restaurants will bear the brunt of this. Wine is already expensive enough at a restaurant. Don't see people paying significantly more for wine, and US wine, as mentioned by the guest, is not a direct substitute.
How about buy wine and liquor from the USA .
Young people do not care about wine
Be like Trump don’t drink alcohol.