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Forbes
6 days ago
- Business
- Forbes
Why Serprino Could Be Your Next Favorite Wine
The U.S. market is the largest and most dynamic destination for Prosecco in the world. Imports reached a record of 117,6 million bottles in 2024, with a strong double-digit growth (+17%) over the previous year. It's easy for American wine lovers to find a bottle of Prosecco everywhere, as the presence of this sparkling wine is ubiquitous in American restaurants and retail, and the trend toward premiumization and sustainability is likely to further drive demand in the coming years. Things could change, though. There is a rising demand for premium and higher-quality DOCG Prosecco (as the Conegliano-Valdobbiadene, or Asolo), as American consumers become more sophisticated in their sparkling wine preferences and seek for more complex and gastronomic bubbles, but this category of wine is not for every pocket. On the other hand, there are numerous individuals who are seeking sparkling wines that are less expensive than Prosecco or as a bubbly everyday alternative. If you are one of these wine lover, but don't want to give up to a Glera-based wine, then Serprino might become your wine of choice. The Wine Coming From Volcans This wine is produced in Veneto, the same region as Prosecco, but in a different zone: the volcanic soils of the Euganean Hills that surround Padua city and its neighborhood. The best part? It's slightly sparkling, and a fizzy wine is typically easier and more approachable than a sparkling one. It's the only fizzy wine made with an autochthonous grape in Veneto that benefits from a denomination of origin, and among the few in Italy to be linked to a single territory. Serprino can only be produced in the area of the Euganean Hills, which is protected as a Regional Park. You can consider Serprino as the Prosecco's unknown brother also because of its pretty limited production. The different Prosecco denominations (Prosecco DOC, Conegliano Valdobbiadene DOCG, Asolo Prosecco DOCG, Cartizze subzones) extend for over 367,000 acres in total, and the production counts over 660 million bottles a year: compared to that, the tiny Serprino denomination produces only 1 million bottles on 2,100 acres. The Mistery Of A Bizarre Name Squeezed by such a giant, it's no wonder that even many Venetian people ignore Serprino's existence. Yet it can boast a viticulture story dating back to the old Atestina civilization (between IX century B.C. and 1st century A.D.), where this local variety has always benefited from special care by the farmers. According to some scholars, the Serprina grape owes its name to the sinuous, almost serpentine shape of the clusters (the word 'Serprina' in Italian language recalls the word 'serpe', snake), or to the vigorous growth of the vine. Many hypotheses, no certainty: to date there is no definitive answer to the origin of the name. Instead, it is certain that it has a close kinship with Glera: Serprina is likely a specific biotype of the Prosecco grape. However, being cultivated exclusively in much more restricted and well-defined areas with unique geological and microclimatic characteristics has given the grape its original and unmistakable characteristics. The volcanic and alluvial soils of Euganean Hills rich in marine fossils, clay, and limestone, imparts distinctive minerality and freshness to the wine, setting Serprino wine apart from Prosecco. Euganean Hills, A Treasure Of Biodiversity If you look at the Soil Map of the Euganean Hills, such as that kept in the headquarters of the Consorzio di Tutela Vini Colli Euganei, you'll see a puzzle of colors reminiscent of Harlequin's dress, where any color points a different soil. They range from very ancient sedimentary type rocks, formed when the area was still home to a vast tropical sea, to more recent volcanic rocks. Euganean Hills are a treasure trove of biodiversity, and not only naturalistic but also historical, artistic and cultural, thanks to the presence of Venetian villas, castles, villages, monasteries and abbeys. Today they are also a UNESCO Man And Biosphere (MAB) Reserve. Although nowadays there are some producers who also make sparkling Serprino, traditionally people have always preferred vinified Serprina as a slightly sparkling wine, to show off its originality. A Wine For Every Occasions The grape's scents and nuances can be influenced by the soil, slope, or altitude at which it is grown. The climate of the hills is temperate sub-Mediterranean, and areas that are almost arid where dwarf prickly pear or capers grow wild alternate with others that are much wetter and cooler, in the woods where chestnut trees are common. This variety of environments, soils and microclimates is revealed in the glasses of Serprino with aromas of ripe white fruit (pear, apple, peach) that sometimes come along with citrus or tropical notes if the grapes come from vineyards located in warmer areas. Conversely, in the case of vineyards located at higher and cooler altitudes, Serprino expresses more vegetal scents, reminiscent of aromatic garden herbs such as mint and thyme, reaching balsamic and aromatic notes of herbs, mint, thyme, reaching balsamic and menthol nuances. In either case, however, the freshness and cleanliness of the sip, the ease of drinking and the great versatility of food pairing make this wine a very pleasant tasting experience, at all hours of the day and on all occasions. Serprino is a contemporary product, because it meets the requirements that today's most demanding consumers look for in a wine: bubbly, white, from an indigenous grape variety cultivated in an environment rich in biodiversity, with a low alcohol content (10 to 11.5 degrees) and a very attractive price-quality ratio. A versatile wine, whose characteristics complement a wide range of foods: fish or vegetable appetizers, risottos with wild herbs or peas, typical pastas of Italian cuisine, shellfish, and cured meats. A glass of this wine is perfect even with sushi and sashimi, pizza or poke. If you are curious to know more about this wine, and plan to do a jump in Veneto sooner or later, don't miss the wine events organized throughout the year by the Consorzio Tutela Vini Colli Euganei. Being a volcanic wine, Serprino is unable to stay still and quiet…
CNN
6 days ago
- Business
- CNN
Trump wanted manufacturers to diversify away from China. Now many that heeded that call face stiff new tariffs
As US tariffs on China surged over the past decade, South and Southeast Asia became key destinations for foreign and Chinese companies to diversify their supply chains. But with US President Donald Trump's protectionist swing going truly global in his second administration, these nations now find themselves caught in the crossfire – facing some of the highest tariffs in the world and a rapidly shifting global trade order that could pinch American consumers. Many regional leaders publicly celebrated the new US tariff figures when they were released last week, keen to remind domestic audiences that they were lower than those initially threatened by Trump. But analysts and economists warn the new levies are still historically steep and should not be shrugged off. 'It's a gut punch to these countries and they need to try to negotiate it lower,' said Dan Ives, global head of research at financial services firm Wedbush Securities. 'The worry is US is trying to cut off China's export routes and it speaks to the high tariffs facing these nations.' Country-specific tariffs aren't the only concern for nations and businesses in the region. The Trump administration has announced a separate extra 40% tariff on so-called 'transshipments,' goods shipped from a high-tariff country to a low-tariff country before being re-exported to the US. Thanks to its geographic positioning, large youth populations, burgeoning middle classes and growing infrastructure, South and Southeast Asia are regions of competing interest and competition for the US and China. Early in the 2.0 trade war between the US and China, Chinese leader Xi Jinping boarded an Air China jumbo jet bound for Southeast Asia, marking his first foreign trip of the year. As the Trump administration was lobbing tariffs and demands in April, Xi was meeting with trade partners in Vietnam, Cambodia and Malaysia, positioning China as a reliable partner and defender of global trade. Over the recent decades, many countries in the region built themselves up with global and Chinese investors looking to diversify away from China, transforming them into export-driven economies. US-China tensions that flared during Trump's first term and the Covid-19 pandemic accelerated the Southbound shift. Labor-intensive industries — from garments to footwear and lower-end electronics manufacturing and assembly — became pillars of economic growth. But now, with Trump's global tariff blitz and sweeping levies on transshipments, that momentum is facing serious headwinds, as companies are being forced to rethink whether maintaining operations in the region still makes commercial sense. When Trump initially threatened his 'Liberation Day' reciprocal tariffs on April 2, South and Southeast Asia shuddered. Cambodia faced 49%, Laos 48% and Bangladesh 37%. The new levies unveiled continued to impose steep rates on several nations in the region. Among the highest levies were 40% on Laos and Myanmar, the second-highest behind only 41% on Syria, however neither have a particularly large trade relationship with the US. The rates on places like Cambodia, Vietnam, Indonesia, Malaysia and Thailand – all of which have become key low-cost manufacturing hubs for US consumers – were lowered to 19 or 20%. Publicly, regional leaders reacted positively to their final tariff rate with the US. Cambodia (19%) described it as good news for the people and its economy, Malaysia (19%) called its final rate a 'significant achievement' and Bangladesh (20%) praised the result of its trade negotiations as a 'decisive diplomatic victory'. But for Deborah Elms, head of trade policy at the Hinrich Foundation, an organization that focuses on trade, the idea that the lower tariff rates are a win is 'misguided.' 'These rates are very high, and they only look less high because the US used this nonsense formula in April, and the way that the formula was designed really punished firms located in countries where they export a lot to the US, but they import relatively little, mostly because they're much poorer than the United States,' she said. 'It's really lose-lose,' she added, explaining that it's a setback for American consumers and companies, as well as export-reliant Asian economies. One silver lining for these countries, however, is that most received relatively similar tariff rates of around 20% – meaning garment powerhouses like Bangladesh, Cambodia, Vietnam, and Sri Lanka are not significantly worse off than their competitors. The threat of further transhipment tariffs adds an extra layer of bureaucracy for both businesses both globally and in the US. The US already imposes penalties and fines on transshipped goods that undergo minimal or no substantial transformation in a third country after leaving their country of origin. The new 40% tariff will be applied on top of those existing penalties, a senior administration official told CNN. But Trump's definition of transshipment in his latest tariff announcement has appeared to take on a much broader meaning – with China as the unmistakable target. 'What Trump seems to be using when he talks about transshipment is Chinese content. So that's a very different definition of transshipment, as in, anything that comes from Asia is suspect for transshipment,' Elms said. Uncertainty remains for countries and businesses in the region as White House officials have yet to clarify how the tariff will be defined, which goods will be targeted, and how their contents will be evaluated. This is not the first time Trump has sought to impose tariffs on these indirect shipments. In a deal with Vietnam, one of the earliest deals he struck since April, he also included 40% tariffs on transhipped goods, in additions to 20% on the Southeast Asian country's exports to the US. Though not explicitly named in the deal, China vehemently protested at the time and said it would take 'strong measures' to protect its rights. Last week, after Trump's announcement of the transshipment tariffs, China reiterated its view that 'tariff and trade wars have no winners.' 'Protectionism harms the common interests of all countries,' said foreign ministry spokesperson Guo Jiakun. For South and Southeast Asian countries, Trump's tariffs are poised to reshape supply chains in the region over the medium to longer term, while driving down overall trade with the US, according to Louise Loo, head of Asia economics at research firm Oxford Economics. 'We are already seeing some moderation in what we think are rerouted trade in the recent monthly trade figures out from various economies in Asia,' she said. Meanwhile, the years-long trend of companies diversifying their productions from China to South and Southeast Asia may come under mounting pressure because of the transshipment tariffs. 'The new punitive treatment would either short-circuit this Southbound shift in manufacturing we'd seen over the past decade, or incentivise more creative ways of rerouting by Chinese manufacturers,' Loo said. What could happen is that manufacturers of low-margin, labour-intensive sectors such as furniture and toys could reshore back to China given the shrinking cost advantages and potential to benefit from greater economies of scale, she said. And for products that rely heavily on US market access like household appliances, nearshoring may become a more attractive option, she added. But other experts were less convinced that Trump's tariff would halt or even reverse the offshoring of manufacturing from China. 'China's labor costs have been rising and it is gradually losing competitiveness in some more labor intensive lower end manufacturing,' said Lynn Song, chief Greater China economist at Dutch bank group ING. He added that with most countries still facing lower tariff rates than China, tariffs alone are unlikely to derail the broader trend of investment. On the contrary, the new measures could even accelerate Chinese manufacturing expansion abroad, Song said. 'If transshipment tariffs are targeting Chinese made goods making a stop with minimal value added in Vietnam before being sent to the US, it could make sense to relocate part of the manufacturing process to Vietnam so that it still qualifies as a Made in Vietnam product,' he said. CNN's Phil Mattingly contributed reporting.
Qatar Tribune
01-06-2025
- Business
- Qatar Tribune
OPEC+ announces sharp increase in July oil production
Agencies Vienna Saudi Arabia, Russia and six other key OPEC+ members announced on Saturday a huge increase in crude production for July. They will produce an additional 411,000 barrels a day -- the same target set for May and then June -- according to a statement, which is more than three times greater than the group had previously planned. In recent years the 22-nation group had agreed to daily reductions of 2.2 million barrels with the aim of boosting prices. But in early 2025, leading members of the group known as the 'Voluntary Eight', or V8, decided on the gradual output increase and subsequently began to accelerate the pace. The moves have resulted in oil prices plummeting to around $60 per barrel, the lowest level in four years. OPEC+ 'struck three times: (the output target for) May was a warning, June a confirmation and July a warning shot', Rystad Energy analyst Jorge Leon told a news agency. 'The scale of the production increase reflects more than just internal supply dynamics,' he said. 'This is a strategic adjustment with geopolitical aims: Saudi Arabia seems to be bowing to Donald Trump's requests.' Shortly after taking office, the US president called on Riyadh to ramp up production in order to bring down oil prices, meaning cheaper prices at the pump for Americanconsumers. Saturday's decision comes after a meeting of all OPEC ministers on Wednesday, where the alliance's collective production policy was reaffirmed. The decision is officially justified by 'healthy market fundamentals' covering oil reserves and structural demand growth during coming months. But markets have met this view with scepticism amid concerns about demand and a trade war launched by the United States. Analysts see several possible motivations for the production hikes, one of them being Saudi Arabia and others penalising members for not keeping to their quotas under the cuts first agreed in 2022. The increase is all the more likely due to 'the latest statements of Kazakh Energy Minister Yerlan Akkenzhenov, who has apparently already informed OPEC that his country will not reduce production,' said Thu Lan Nguyen, an analyst at Commerzbank. 'Saudi Arabia is angry with Kazakhstan', which is seen as one of the main laggards, and which 'produced 300,000 barrels per day more than its quota,' said Bjarne Schieldrop, an analyst at SEB. Analysts meanwhile do not foresee a plunge in oil prices when markets open Monday as the announcement was largely anticipated, instead resulting in a 'moderate' reaction. On Friday, the benchmark Brent crude futures price had settled at $62.61 per barrel, while West Texas Intermediate was at $60.79.
Wall Street Journal
09-05-2025
- Business
- Wall Street Journal
Trump's Bespoke Trade Deal With U.K. Sets Little Precedent for Other Nations
WASHINGTON—President Trump made a deal. Now comes the hard part: getting more. Trump agreed to a framework for a trade agreement with the U.K., giving his administration momentum as it faces pressure to notch scores more to avoid hurting American consumers. But the deal was limited in scope and included niche issues regarding the U.K., meaning it didn't offer other nations a clear road map to follow, foreign officials said.
Telegraph
07-05-2025
- Business
- Telegraph
Trump is the wrong man to deny dolls to America's daughters
On trade, Donald Trump has been quickly and decisively proven right on at least one count. At a Cabinet meeting last week, he downplayed the impact of his trade policy on American consumers, quipping that 'maybe the children will have two dolls instead of 30 dolls … And maybe the two dolls will cost a couple of bucks more than they would normally'. He liked the line so much that he repeated a version of it during an interview on Meet the Press. He explained that 'they don't need to have 30 dolls. They can have three. They don't need to have 250 pencils. They can have five.' Sure enough, Mattel, America's biggest toy company by sales, has now warned that Americans could soon see price increases as a result of Trump's trade war. 'There's no question that tariffs are creating disruption in the industry,' said Mattel chief executive, Ynon Kreiz. 'Many companies have stopped production and shipping to the US as a result of tariffs from China.' Still, at least the president is being upfront about the consequences of his trade policy. After all, on 'liberation day', when he announced his so-called reciprocal tariffs on America's trading partners, he wasn't saying Americans should prepare to pay more for less. Far from it, he was promising a 'golden age of America' . 'April 2, 2025 will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again,' insisted Trump, whose administration has often contradicted itself by claiming tariffs can be a revenue source, a bargaining chip for better trade terms, and a way to rebuild industry all at the same time. It's only been a little more than a month, and yet the president's tone has shifted dramatically. It's not wealth and golden ages on the tip of his tongue, but price hikes and the equivalent of wartime austerity. Only the United States isn't at war, and isn't facing an existential threat due to foreign trade. Indeed, Trump is calling on his voters to make sacrifices not on behalf of something that is destined to deliver enormous returns over time, but over a dubious policy that his administration has executed appallingly. The president's fixation with tariffs is informed by poor logic and worse history. He seems to think that any country exporting to the United States is ripping us off, and has made the risible assertion that the proximate cause of the Great Depression was that tariffs were too low. If only one of his more well-intentioned advisers were to google 'Smoot-Hawley' and show him the results. Unfortunately for the president, voters do not seem to agree that he is ushering in a new golden age. In the days since their 'liberation', Trump's approval rating has cratered, and deservedly so. Because while Trump may think that children won't mind fewer dolls in the cause of rendering US manufacturing artificially more competitive, Americans have realised that the immediate consequence is likely to be higher prices, less choice, and inferior quality products across the board. The fact that their fate is being downplayed by President Trump is likely to be even more galling. He came to fame by making his name synonymous with wealth and success. He rose from the political ashes to take back the White House last year largely because Americans associated his first term in office with an economic boom. He's also no stranger to what many might consider superfluous stuff – from the gold ornamentation that now adorns the Oval Office to Trump-themed merchandise. So even if there was a strong case for Americans to be buying fewer dolls for their daughters, President Trump would be the wrong person to make it. His appeal has always been as the man to bring America guilt-free abundance. Not austerity and hardship.
