For Wine, Tariffs Mean Fear, Uncertainty and Higher Prices
The New York Times
American consumers are likely to see fewer choices on the shelves, and small producers may be the hardest hit.
The last few decades have been a glorious time for wine lovers in the United States. Consumers have had access to an unparalleled diversity of choices from around the world.
This golden era may soon end as President Trump’s new tariffs take effect, raising prices on virtually all wines, foreign and domestic.
Beginning this month, wines and all other products imported from the European Union will be subject to 20 percent tariffs. Products from other popular sources for wine like Argentina, Chile, Australia and New Zealand will face 10 percent tariffs. The tariff on South African products will be 30 percent, and on Israeli products 17 percent.
The prices for all these wines will rise. How much depends on whether the chain of importers, distributors, retailers and restaurants absorbs any of the additional cost.
Pretty much everybody in the American wine world stands to lose something. It’s not clear who gains.
American wine producers might seem to benefit, and they may for a time gain a larger share of the domestic market. But prices for American wines, too, will rise, as distributors, most of whom also depend on imported wines, try to make up for lost profits.
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