European wine and spirits industry has been excluded from the new EU-US trade deal
Former Trump economic adviser Stephen Moore commented on US European Union, the president’s tariff policy, and US Secretary of Commerce Lutnick’s economic remarks.
As the EU-US trade contract progresses, the wine and spirit industries on both sides of the Atlantic remain engulfed.
New contract protected by the president Donald Trump On the weekend, we are leviing a 15% tariff on European goods, but do not include decisions regarding the wine and spirit industry. European Commission Chairman Ursula von der Leyen said on Sunday that the alcohol trade market agreement will be put together in the coming weeks.
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When it comes to alcohol, Europe is America’s top client, importing approximately $1.2 billion from the US spirit in 2024. Industry Association.
Alcohol was also ranked among them of the European Union According to Eurostat data, the highest export to the US, totaling around $10.5 billion last year.
A bottle of whiskey sits on the shelf at Mike’s whiskey store in Munich. (Peter Kneffel/Picture Alliance via Getty Images/Getty Images)
Chris Swanger, president and CEO of the U.S. Distillation Spirits Council, said that removing tariffs would be ideal. Trade negotiations.
He cited a 60% surge in American whiskey exports in 2022, after the European Union’s 25% retaliatory tariff suspension since 2018.
“We are optimistic that this positive meeting and agreement will lead to a return to zero-zero tariffs on our spirit products with us.
“It’s time to go back to toast rather than customs,” he added.
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The European Wine Company Commission, a Brussels-based wine trade organisation, also proposed a zero tariff arrangement.
“The United States is the largest export destination of EU wine, accounting for 27% and 21% of EU wine exports. The US wine market is the basis of the economic sustainability of the EU wine sector and the rural communities it sustains,” the group wrote in a statement.
Ongoing bonycott of alcohol in Canada
Price sticker for heaven door bourbon near the empty shelves space where American-made liquor was found at the Society Ducoull’s Duquebec store in Montreal on Wednesday, March 5th, 2025. (Getty Images/Graham Hughes via Getty Images/Bloomberg)
Canada’s The retaliatory boycott of the American spirit prompted by Trump’s tariffs had a major impact on the exports of US liquor.
Diplomatic fallouts have resulted in a decline of more than 66% in US spirit sales in Canada, according to economic data compiled by Spirits of the Canadian Trade Association.
Ontario, Canada’s largest spirit market, has dropped by 80%, according to a group representing Canadian manufacturers and marketers for distillation spirit.
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Last year, the US imported Canadian spirit worth $621 million, according to data complied with by the US Council of Distillation Spirits. Meanwhile, Canada imported US spirit worth $221 million.
Currently, the US and Canada are Trade Contract The August 1st deadline is rapidly approaching. Trump previously said he would not provide delays or extensions to tariff deadlines.