Latest news with #RonnieSanders
Yahoo
02-04-2025
- Business
- Yahoo
Here's How The 200% Tariffs Could Impact Your Favorite Cocktails
Bad news if you're a French wine aficionado or Chianti connoisseur. Last month, President Trump threatened a 200% tariff on wine and spirits imported from the European Union, and the administration is primed to confirm the tariff this afternoon. The move comes in response to the region across the pond imposing a 50% whiskey tariff on U.S. products (which was in response to Trump's earlier tariffs on European steel and aluminum imports). Whether the final number is a 50% clapback or 200% escalation, the move will make a dent in consumers' wallets, not to mention the wine and spirits industry as a whole. The price of your favorite bottle could skyrocket as much as two or three times what it is now, according to Vine Street Imports CEO Ronnie Sanders. While your fave gin is probably safe (most are imported from the UK, thank you, Brexit!), your wine, champagne, and plenty of other spirits are at risk for a major price spike. This includes big brands like Moët Chandon, Hennessy, Rémy Martin, Cointreau, Grand Marnier, Limoncello, Campari, Aperol, Jägermeister, and Jameson. French and Italian wines will also experience the same impact. Your favorite $53 Moët might cost you up to $159. And don't even get me started on Aperol Spritz prices—the iconic orange cocktail's sole ingredient made in the U.S. is soda water, which means that a whopping 94% of your glass comes from overseas and will subsequently skyrocket in price. The Washington Post reports that plenty of other E.U.-born liquors dominate some of our most beloved cocktails. Those bottomless mimosas you down at weekend brunch are made with sparkling wine that primarily comes from the E.U. and accounts for 50% of the cocktail. A Negroni's star ingredients—Campari and vermouth—come from the E.U., as well. Even those who opt for the humble Long Island Iced Tea, an elevated Sidecar, or a classic martini will feel the weight of the tariffs, thanks to some of their imported ingredients, which account for 24%, 54%, and 17% of the drinks, respectively. While a 200% tariff would undoubtedly be catastrophic for the beverage industry, "everyone agrees that even modest tariffs would send shock waves throughout the entire food and beverage ecosystem, weakening distribution channels and further driving up already astronomical prices," reports The Guardian. The resulting price increases mean that many bars might nix cocktails off their menus altogether or force them to get crafty in finding workarounds that don't utilize the tariffed products. In fact, importers might decline to import many of these wines and spirits if they don't feel like they're worth the price. The future certainly looks bleak at the moment, so let's just hope the nations have come to some sort of agreement that nips it all in the bud. Otherwise, we'll have to get a lot more familiar with California wines and Kentucky bourbons ASAP. You Might Also Like Insanely Easy Weeknight Dinners To Try This Week 29 Insanely Delicious Vodka Cocktails
Yahoo
19-03-2025
- Business
- Yahoo
What The 200% Tariff On Wine & Spirits Could Mean For Your Favorite Drinks
Stocking your bar cart maybe be about to get a whole lot more expensive. Late last week, President Trump threatened a 200% tariff on wine and spirits imported from the European Union, NBC News reports. The move comes in response to the region imposing a 50% whiskey tariff on U.S. products (which is itself in response Trump's earlier tariffs on steel and aluminum imports from Europe). And while nothing has gone into effect yet, the retaliatory move could have serious implications on consumers' wallets. "The European Union, one of the most hostile and abusive taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% Tariff on Whisky," Trump wrote. "If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES. This will be great for the Wine and Champagne businesses in the U.S." He later accused the "entire world" of "ripping us off" and said, "the U.S. doesn't have free trade. We have 'Stupid Trade.'" A spokesperson for the EU responded and said its trade minister is in contact with the right people in America and "calls are being prepared." Should Trump implement the tariff, he's not wrong about it having a serious impact on the wine and spirit industry. It'll also impact much you're spending on your favorite bottle. According to CEO of Vine Street Imports, Ronnie Sanders, prices could skyrocket as much as two or three times what they are now. "I don't think customers are prepared to pay [that much]," he told AP News. While your fave gin is probably safe (most are imported from the UK, and oh yeah, remember Brexit?) but your wine, champagne, and other spirits are at risk for a major price spike. This includes major brands like Moët Chandon, Hennessy, Rémy Martin, Cointreau, Grand Marnier, Limoncello, Campari, Aperol, Jägermeister, and Jameson. French and Italian wines will experience the same impact. Your favorite $53 Moët might cost you up to $159. Don't even get me started on Aperol Spritz prices—considering the fact that the popular liqueur could go from $23 to $69. And that's just for the liqueur. You better pray you can find a good American bubbly to go with it, because a previously un-tariffed $15 bottle of Prosecco could shoot up to $45. Let's hope the tariff doesn't go through, but we should probably stockpile our liquor cabinets with Aperol, champagne, and a good Italian red now just in case. You Might Also Like Insanely Easy Weeknight Dinners To Try This Week 29 Insanely Delicious Vodka Cocktails
