A planned 30% US tariff on EU wines could hike prices, slash choice, and force layoffs across America’s wine trade. The US wine industry warns that distributors who rely on European bottles for most of their revenue would collapse, hurting domestic winemakers and vintners too. While some California grape growers hope the tariffs will level the playing field for US winemakers, importers and retailers are skeptical that protectionism is the long-term solution. Critics say tariffs won’t fix oversupply or falling demand and would instead shrink the entire US wine ecosystem.
——–
More on Bloomberg Television and Markets
Like this video? Subscribe and turn on notifications so you don’t miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.
Connect with Bloomberg Television on:
X: https://twitter.com/BloombergTV
Facebook: https://www.facebook.com/BloombergTelevision
Instagram: https://www.instagram.com/bloombergtv/
Connect with Bloomberg Business on:
X: https://twitter.com/business
Facebook: https://www.facebook.com/bloombergbusiness
Instagram: https://www.instagram.com/bloombergbusiness/
TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en
Reddit: https://www.reddit.com/r/bloomberg/
LinkedIn: https://www.linkedin.com/company/bloomberg-news/
More from Bloomberg:
Bloomberg Radio: https://twitter.com/BloombergRadio
Bloomberg Surveillance: https://twitter.com/bsurveillance
Bloomberg Politics: https://twitter.com/bpolitics
Bloomberg Originals: https://twitter.com/bbgoriginals
Watch more on YouTube:
Bloomberg Technology: https://www.youtube.com/@BloombergTechnology
Bloomberg Originals: https://www.youtube.com/@business
Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake
Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol
Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts
45 Comments
Not a fan of tariffs either, but these are first world problems if I’ve ever seen them.
Cue the world’s tiniest violin.
Taco wants his tariffs revenue. US can bear this for 4 years until his term ends.
Why aren’t you talking about the Genocide happening in Syria 🇸🇾 against Christian and Druze?
He really is the dumbest and easily the worst President of all time. Dumb doesn’t even cover it. Truly human filth.
Why can’t a vinyard sell to a restaurant or wine retailer? Seems absurd.
Ye reap what ye sow.
A 20% tariff on alcoholic products will reduce American alcoholism and DUI cases. It's so good for the American people health and safety.
After listening the trade guy, I think we need the tariff on the European wines. Bloomberg is so stupid and wants to show the trade guy is correct.
Tariffs is a lose lose.
Europe doesn't need trade barriers against US wine. The simple fact is that Italians, Spanish and French citizens don't drink much wine from any country but their own. Americans just don't understand that price isn't everything. Quality matters to Europeans and the US doesn't sell quality, they sell Made in the USA. But when the Made in the USA brand is worthless, so is their wine!!
Well explained. The US wine industry exports its best wine, or at least it did, to countries like Canada; while selling crap to its own citizens, most of whom just look at the price. The US consumer has almost no clue about 'terroir'; something that most other countries do!!
Tarriffs won't fix the US problem!! There problem is that they believe they get to set all the trade rules. Tarriffs will protect their own market; however, consumers will have no choice, US wineries will have NO export markets, prices will generally go up, and consumers will be offered either cheap swill or some finer expensive wines for those who can still afford it.
The US will no longer be using real cork to cork their bottles as all real cork comes from a certain tree grown in Portugal.
Terroir means more than just place. It means the geography, the land, the air, the water, etc.
Interesting that this clip doesn’t mention the fact that all US wine/alcohol is pretty much banned in all of Canada. For US Wines, it’s a loss of a 500$ million market, overnight.
I just wrote that drinking my Roger Sabon Cotes du Rhone here in the western suburbs of Toronto. Tomorrow I’ll have a Roger Sabon Chateauneuf du Pape Cuvée Reserve for dinner. No more California reds for me.
Maybe the US should have some rules about making wine like Europe. And maybe the US should make better wine that people want. See 1973 . You can’t force people to drink your wine. No matter where it’s made. Wake up .
im supposed to give a shit about wine ??? f al that..tariff the f out of them
If you want good wine go to Oregon.
Maybe Americans will just drink Bourbon, they have plenty of it since Canada stops importing them.
Chile: “…you know, I am a bit of a wine producer myself…”
Business people who complain should just go find a job.
In the UK, you would pay £3.52 ($4.72) duty per litre plus the cost of the wine and 20% vat on top of all that. For European wines, you're paying for the snob value, the culture, heritage, and prestige. I would pick California, Washington, or Oregon wine over Spanish or French wine because it's about the science now and not culture. You perfect the science, you perfect the wine.
Nobody needs that chemical liquids American call their wine 😅
If farmers cant sell grapes for wine, they should grow geapes for eating. Or otherfruits. Healthier anyway.
Why are these ungrateful folks complaining?? Can't they see that this is what is making America great again😂😂😂
California wine is awful. That's why you are not competing in Europe. Why would they buy your lower quality product for more? End of the story.
Well if he crashes the dollar as seems to be his intent then European wines will go up by another 10 to 20 percent on top of the tariffs. Guess you're not going to be drinking much imported wine anymore. The law of unintended consequences strikes again.
Time to stock up on Wild Irish Rose.
Trump is writing a new book "How to shoot myself multiple times in the foot".😊
That is good for the Health Department as the funding costs dwindled from the Big and Beautiful Bill Act and less Alcoholic related Illnesses. It's a blessing in Disguise🤔🤣🤣🤣
I am so utterly sickened of Trump. HOW OB EARTH IS ANYONE IN THE USA SO DUMB TO ELECT THIS IDXXT!!!
So cheap wine for other state? Asia?😅😊
Australia has both a free trade agreement and a surplus with America. We have the tariff and pressure from US big pharma to abolish the PBS which gives us lower priced medicine than Americans. Trump thinks he can tamper with foreign government. He has np idea.
Those wine drinking sissies should stop whining and start drinking moonshine. That'll grow some hair on their chests. America can only be great again if and when all men have hair on their chest.
No wine No cry
I’m having trouble getting the crocodile tears going for agribusiness. Growing stuff in California during a water shortage just to grow fortunes is idiotic. You can make wine from local grapes and who really needs almond water?
american wine and spirits are already NOT SOLD in Canada! No ONE wants anything american, BABA – Buy Anything But American! America wants to be by themselves, so be it, drink your own swill!
Amsterdam,
The E.U should lower the prices for Europe just a little
We Europeans are quite willing to help save our wine producing neighbours
Blomberg is communist BS- where was the hysteria when biden had 10 procent inflation- clowns
You americans voted for a pedophile fascist. No one wants your american wine, and the rest of the world will be fine WITHOUT you. FAFO silly americans.
Already for many years wine has been expensive in US, why? There must have been duties to protect the California wine making. SO what is new here?
Buy European wine, buy Australian wine, buy South African wine. Boycott all American products.
If you’ll just wait the good stuff is coming. Just wait. 🙂
the more tariff on wine the more people will buy
the resellers are toooo gready
f your french wines!