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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
13-03-2025
- Business
- Yahoo
US wine shops and importers say Trump's threatened 200% tariff on European wines would kill demand
The United States is suddenly looking less bubbly for European wines. President Donald Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned 50% tariff on American whiskey. Wine sellers and importers said a tariff of that size would essentially shut down the European wine business in the U.S. 'I don't think customers are prepared to pay two to three times more for their favorite wine or Champagne,' Ronnie Sanders, the CEO of Vine Street Imports in Mt. Laurel Township, New Jersey, said. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Jeff Zacharia, president of fine wine retailer Zachys in Port Chester, New York, said 80% of the wine he sells is from Europe. Importers depend on European wines for a big part of their distribution system, he said, and there's not enough U.S. wine to make up for that. 'This is just going to have a major negative impact on the whole U.S. wine industry in all aspects of it, including U.S. wineries,' he said. Zacharia said there are so many unknowns right now he's stopped buying European wine until the picture becomes clearer. 'It's very hard to make preparations when as a business you don't have a clear path forward,' he said. 'Our preparations would be very different if it's 200% compared to 100% compared to 10%.' Wine and spirits from the 27-nation European Union made up 17% of the total consumed in the U.S. in 2023, according to IWSR, a global data and insight provider specializing in alcohol. Of that 17%, Italy accounted for 7% -- mostly from wine – and French wine, cognac and vodka accounted for 5%. Overall, the U.S. imports much more alcohol than it exports. The $26.6 billion worth of foreign-produced alcoholic beverages that entered the country in 2022 accounted for 14% percent of all U.S. agricultural imports, according to the U.S. Department of Agriculture. The U.S. exported $3.9 billion worth of beer, wine and distilled spirits that year. Marten Lodewijks, president of IWSR U.S., said a 200% tariff would not be unprecedented but import duties of that size tend to be more targeted. In 2020, China imposed tariffs as high as 218% on Australian wine, which caused exports to plunge by 90%, Lodewijks said. China lifted the tariffs last year, but by then Australia's wine industry had taken a big hit. Australia's wine trade to China was worth 1.1 billion Australian dollars ($710 million) annually before the tariffs were put in place. Europe's tax on American whiskey, which was unveiled in response to the Trump administration's steel and aluminum tariffs, is expected to go into effect on April 1. Trump responded Thursday in a social media post. "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,' Trump wrote. 'This will be great for the Wine and Champagne businesses in the U.S.' Trump was incorrect about the Champagne business. Champagne is a legally protected wine that can only come from France's Champagne region. But U.S. winemakers — including Trump Winery, a Virginia winery owned by the president's son Eric Trump — do make sparkling wine. Reaction from across the Atlantic was swift Thursday. 'We must stop a dangerous escalation that is leading to a global trade war where the first victims will be U.S. citizens who will pay more for products, and with them, farmers,'' Ettore Prandini, president of Italy's Coldiretti agriculture lobby, said. Italian wine exports to the U.S. – led by prosecco -- have tripled in value over the last 20 years and reached 1.9 billion euros ($2.1 billion) last year. In France, the U.S. market for wines and spirits is worth 4 billion euros ($4.3 billion) annually. Gabriel Picard, who heads the French Federation of Exporters of Wines and Spirits, said 200% tariffs would be 'a hammer blow' for France's alcohol export industry, impacting hundreds of thousands of people. 'Not a single bottle will continue to be expedited if 200% tariffs are applied to our products. All exports to the United States will come to a total, total, halt,' Picard said in an interview with The Associated Press. French transporter Grain de Sail, which uses sail power to ship wines and other goods across the Atlantic, said Thursday that some winemakers had already cancelled planned shipments of wine to the U.S. because they were anticipating tariffs even before Trump's announcement. 'It has more or less frozen exports. There's no point even hoping to send wine to the United States under these conditions,' said Jacques Barreau, the firm's co-founder. Some U.S. wine stores saw an opportunity Thursday. In Washington, the wine bar Cork announced a tariff sale, encouraging regulars to come stock up on their favorite wines while they're still affordable. Others wondered aloud whether Trump would really go through with a 200% tariff. 'It changes by the hour now, right?" Mark O'Callaghan, the founder of Exit 9 Wine & Liquor Warehouse in Clifton Park, New York, said. European wines make up around 35% of sales at his store, he said. Others seemed to want to stay out of the fray. Total Wine, which operates 279 stores in 29 U.S. states, didn't respond to a request for comment Thursday. Southern Glazer's Wine & Spirits, one of the country's largest alcohol distributors, also didn't respond to a message seeking comment. ___ Anderson reported from New York. Durbin reported from Detroit. AP Writers Colleen Barry in Rome, John Leicester in Paris and Zeke Miller in Washington contributed.
The Hill
13-03-2025
- Business
- The Hill
US wine shops and importers say Trump's threatened 200% tariff on European wines would kill demand
The United States is suddenly looking less bubbly for European wines. President Donald Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned 50% tariff on American whiskey. Wine sellers and importers said a tariff of that size would essentially shut down the European wine business in the U.S. 'I don't think customers are prepared to pay two to three times more for their favorite wine or Champagne,' Ronnie Sanders, the CEO of Vine Street Imports in Mt. Laurel Township, New Jersey, said. Jeff Zacharia, president of fine wine retailer Zachys in Port Chester, New York, said 80% of the wine he sells is from Europe. Importers depend on European wines for a big part of their distribution system, he said, and there's not enough U.S. wine to make up for that. 'This is just going to have a major negative impact on the whole U.S. wine industry in all aspects of it, including U.S. wineries,' he said. Zacharia said there are so many unknowns right now he's stopped buying European wine until the picture becomes clearer. 'It's very hard to make preparations when as a business you don't have a clear path forward,' he said. 'Our preparations would be very different if it's 200% compared to 100% compared to 10%.' Wine and spirits from the 27-nation European Union made up 17% of the total consumed in the U.S. in 2023, according to IWSR, a global data and insight provider specializing in alcohol. Of that 17%, Italy accounted for 7% — mostly from wine – and French wine, cognac and vodka accounted for 5%. Overall, the U.S. imports much more alcohol than it exports. The $26.6 billion worth of foreign-produced alcoholic beverages that entered the country in 2022 accounted for 14% percent of all U.S. agricultural imports, according to the U.S. Department of Agriculture. The U.S. exported $3.9 billion worth of beer, wine and distilled spirits that year. Marten Lodewijks, president of IWSR U.S., said a 200% tariff would not be unprecedented but import duties of that size tend to be more targeted. In 2020, China imposed tariffs as high as 218% on Australian wine, which caused exports to plunge by 90%, Lodewijks said. China lifted the tariffs last year, but by then Australia's wine industry had taken a big hit. Australia's wine trade to China was worth 1.1 billion Australian dollars ($710 million) annually before the tariffs were put in place. Europe's tax on American whiskey, which was unveiled in response to the Trump administration's steel and aluminum tariffs, is expected to go into effect on April 1. Trump responded Thursday in a social media post. '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,' Trump wrote. 'This will be great for the Wine and Champagne businesses in the U.S.' Trump was incorrect about the Champagne business. Champagne is a legally protected wine that can only come from France's Champagne region. But U.S. winemakers — including Trump Winery, a Virginia winery owned by the president's son Eric Trump — do make sparkling wine. Reaction from across the Atlantic was swift Thursday. 'We must stop a dangerous escalation that is leading to a global trade war where the first victims will be U.S. citizens who will pay more for products, and with them, farmers,'' Ettore Prandini, president of Italy's Coldiretti agriculture lobby, said. Italian wine exports to the U.S. – led by prosecco — have tripled in value over the last 20 years and reached 1.9 billion euros ($2.1 billion) last year. In France, the U.S. market for wines and spirits is worth 4 billion euros ($4.3 billion) annually. Gabriel Picard, who heads the French Federation of Exporters of Wines and Spirits, said 200% tariffs would be 'a hammer blow' for France's alcohol export industry, impacting hundreds of thousands of people. 'Not a single bottle will continue to be expedited if 200% tariffs are applied to our products. All exports to the United States will come to a total, total, halt,' Picard said in an interview with The Associated Press. French transporter Grain de Sail, which uses sail power to ship wines and other goods across the Atlantic, said Thursday that some winemakers had already cancelled planned shipments of wine to the U.S. because they were anticipating tariffs even before Trump's announcement. 'It has more or less frozen exports. There's no point even hoping to send wine to the United States under these conditions,' said Jacques Barreau, the firm's co-founder. Some U.S. wine stores saw an opportunity Thursday. In Washington, the wine bar Cork announced a tariff sale, encouraging regulars to come stock up on their favorite wines while they're still affordable. Others wondered aloud whether Trump would really go through with a 200% tariff. 'It changes by the hour now, right?' Mark O'Callaghan, the founder of Exit 9 Wine & Liquor Warehouse in Clifton Park, New York, said. European wines make up around 35% of sales at his store, he said. Others seemed to want to stay out of the fray. Total Wine, which operates 279 stores in 29 U.S. states, didn't respond to a request for comment Thursday. Southern Glazer's Wine & Spirits, one of the country's largest alcohol distributors, also didn't respond to a message seeking comment. Anderson reported from New York. Durbin reported from Detroit. AP Writers Colleen Barry in Rome, John Leicester in Paris and Zeke Miller in Washington contributed.
The Independent
13-03-2025
- Business
- The Independent
US wine shops and importers say Trump's threatened 200% tariff on European wines would kill demand
The United States is suddenly looking less bubbly for European wines. President Donald Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned 50% tariff on American whiskey. Wine sellers and importers said a tariff of that size would essentially shut down the European wine business in the U.S. 'I don't think customers are prepared to pay two to three times more for their favorite wine or Champagne,' Ronnie Sanders, the CEO of Vine Street Imports in Mt. Laurel Township, New Jersey, said. Jeff Zacharia, president of fine wine retailer Zachys in Port Chester, New York, said 80% of the wine he sells is from Europe. Importers depend on European wines for a big part of their distribution system, he said, and there's not enough U.S. wine to make up for that. 'This is just going to have a major negative impact on the whole U.S. wine industry in all aspects of it, including U.S. wineries,' he said. Zacharia said there are so many unknowns right now he's stopped buying European wine until the picture becomes clearer. 'It's very hard to make preparations when as a business you don't have a clear path forward,' he said. 'Our preparations would be very different if it's 200% compared to 100% compared to 10%.' Wine and spirits from the 27-nation European Union made up 17% of the total consumed in the U.S. in 2023, according to IWSR, a global data and insight provider specializing in alcohol. Of that 17%, Italy accounted for 7% -- mostly from wine – and French wine, cognac and vodka accounted for 5%. Overall, the U.S. imports much more alcohol than it exports. The $26.6 billion worth of foreign-produced alcoholic beverages that entered the country in 2022 accounted for 14% percent of all U.S. agricultural imports, according to the U.S. Department of Agriculture. The U.S. exported $3.9 billion worth of beer, wine and distilled spirits that year. Marten Lodewijks, president of IWSR U.S., said a 200% tariff would not be unprecedented but import duties of that size tend to be more targeted. In 2020, China imposed tariffs as high as 218% on Australian wine, which caused exports to plunge by 90%, Lodewijks said. China lifted the tariffs last year, but by then Australia's wine industry had taken a big hit. Australia's wine trade to China was worth 1.1 billion Australian dollars ($710 million) annually before the tariffs were put in place. Europe's tax on American whiskey, which was unveiled in response to the Trump administration's steel and aluminum tariffs, is expected to go into effect on April 1. Trump responded Thursday in a social media post. "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,' Trump wrote. 'This will be great for the Wine and Champagne businesses in the U.S.' Trump was incorrect about the Champagne business. Champagne is a legally protected wine that can only come from France's Champagne region. But U.S. winemakers — including Trump Winery, a Virginia winery owned by the president's son Eric Trump — do make sparkling wine. Reaction from across the Atlantic was swift Thursday. 'We must stop a dangerous escalation that is leading to a global trade war where the first victims will be U.S. citizens who will pay more for products, and with them, farmers,'' Ettore Prandini, president of Italy's Coldiretti agriculture lobby, said. Italian wine exports to the U.S. – led by prosecco -- have tripled in value over the last 20 years and reached 1.9 billion euros ($2.1 billion) last year. In France, the U.S. market for wines and spirits is worth 4 billion euros ($4.3 billion) annually. Gabriel Picard, who heads the French Federation of Exporters of Wines and Spirits, said 200% tariffs would be 'a hammer blow' for France's alcohol export industry, impacting hundreds of thousands of people. 'Not a single bottle will continue to be expedited if 200% tariffs are applied to our products. All exports to the United States will come to a total, total, halt,' Picard said in an interview with The Associated Press. French transporter Grain de Sail, which uses sail power to ship wines and other goods across the Atlantic, said Thursday that some winemakers had already cancelled planned shipments of wine to the U.S. because they were anticipating tariffs even before Trump's announcement. 'It has more or less frozen exports. There's no point even hoping to send wine to the United States under these conditions,' said Jacques Barreau, the firm's co-founder. Some U.S. wine stores saw an opportunity Thursday. In Washington, the wine bar Cork announced a tariff sale, encouraging regulars to come stock up on their favorite wines while they're still affordable. Others wondered aloud whether Trump would really go through with a 200% tariff. 'It changes by the hour now, right?" Mark O'Callaghan, the founder of Exit 9 Wine & Liquor Warehouse in Clifton Park, New York, said. European wines make up around 35% of sales at his store, he said. Others seemed to want to stay out of the fray. Total Wine, which operates 279 stores in 29 U.S. states, didn't respond to a request for comment Thursday. Southern Glazer's Wine & Spirits, one of the country's largest alcohol distributors, also didn't respond to a message seeking comment. ___ Anderson reported from New York. Durbin reported from Detroit. AP Writers Colleen Barry in Rome, John Leicester in Paris and Zeke Miller in Washington contributed.
Associated Press
13-03-2025
- Business
- Associated Press
US wine shops and importers say Trump's threatened 200% tariff on European wines would kill demand
The United States is suddenly looking less bubbly for European wines. President Donald Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned 50% tariff on American whiskey. Wine sellers and importers said a tariff of that size would essentially shut down the European wine business in the U.S. 'I don't think customers are prepared to pay two to three times more for their favorite wine or Champagne,' Ronnie Sanders, the CEO of Vine Street Imports in Mt. Laurel Township, New Jersey, said. Jeff Zacharia, president of fine wine retailer Zachys in Port Chester, New York, said 80% of the wine he sells is from Europe. Importers depend on European wines for a big part of their distribution system, he said, and there's not enough U.S. wine to make up for that. 'This is just going to have a major negative impact on the whole U.S. wine industry in all aspects of it, including U.S. wineries,' he said. Zacharia said there are so many unknowns right now he's stopped buying European wine until the picture becomes clearer. 'It's very hard to make preparations when as a business you don't have a clear path forward,' he said. 'Our preparations would be very different if it's 200% compared to 100% compared to 10%.' Wine and spirits from the 27-nation European Union made up 17% of the total consumed in the U.S. in 2023, according to IWSR, a global data and insight provider specializing in alcohol. Of that 17%, Italy accounted for 7% -- mostly from wine – and French wine, cognac and vodka accounted for 5%. Overall, the U.S. imports much more alcohol than it exports. The $26.6 billion worth of foreign-produced alcoholic beverages that entered the country in 2022 accounted for 14% percent of all U.S. agricultural imports, according to the U.S. Department of Agriculture. The U.S. exported $3.9 billion worth of beer, wine and distilled spirits that year. Marten Lodewijks, president of IWSR U.S., said a 200% tariff would not be unprecedented but import duties of that size tend to be more targeted. In 2020, China imposed tariffs as high as 218% on Australian wine, which caused exports to plunge by 90%, Lodewijks said. China lifted the tariffs last year, but by then Australia's wine industry had taken a big hit. Australia's wine trade to China was worth 1.1 billion Australian dollars ($710 million) annually before the tariffs were put in place. Europe's tax on American whiskey, which was unveiled in response to the Trump administration's steel and aluminum tariffs, is expected to go into effect on April 1. Trump responded Thursday in a social media post. '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,' Trump wrote. 'This will be great for the Wine and Champagne businesses in the U.S.' Trump was incorrect about the Champagne business. Champagne is a legally protected wine that can only come from France's Champagne region. But U.S. winemakers — including Trump Winery, a Virginia winery owned by the president's son Eric Trump — do make sparkling wine. Reaction from across the Atlantic was swift Thursday. 'We must stop a dangerous escalation that is leading to a global trade war where the first victims will be U.S. citizens who will pay more for products, and with them, farmers,'' Ettore Prandini, president of Italy's Coldiretti agriculture lobby, said. Italian wine exports to the U.S. – led by prosecco -- have tripled in value over the last 20 years and reached 1.9 billion euros ($2.1 billion) last year. In France, the U.S. market for wines and spirits is worth 4 billion euros ($4.3 billion) annually. Gabriel Picard, who heads the French Federation of Exporters of Wines and Spirits, said 200% tariffs would be 'a hammer blow' for France's alcohol export industry, impacting hundreds of thousands of people. 'Not a single bottle will continue to be expedited if 200% tariffs are applied to our products. All exports to the United States will come to a total, total, halt,' Picard said in an interview with The Associated Press. French transporter Grain de Sail, which uses sail power to ship wines and other goods across the Atlantic, said Thursday that some winemakers had already cancelled planned shipments of wine to the U.S. because they were anticipating tariffs even before Trump's announcement. 'It has more or less frozen exports. There's no point even hoping to send wine to the United States under these conditions,' said Jacques Barreau, the firm's co-founder. Some U.S. wine stores saw an opportunity Thursday. In Washington, the wine bar Cork announced a tariff sale, encouraging regulars to come stock up on their favorite wines while they're still affordable. Others wondered aloud whether Trump would really go through with a 200% tariff. 'It changes by the hour now, right?' Mark O'Callaghan, the founder of Exit 9 Wine & Liquor Warehouse in Clifton Park, New York, said. European wines make up around 35% of sales at his store, he said. Others seemed to want to stay out of the fray. Total Wine, which operates 279 stores in 29 U.S. states, didn't respond to a request for comment Thursday. , one of the country's largest alcohol distributors, also didn't respond to a message seeking comment.
