Many specialty wines and cheeses are expected to hike in price due to new U.S. tariffs.
Colleen Barry and Claire ParkerMILAN – European producers of specialty agricultural products like French wine, Italian Parmesan and Spanish olives are facing a U.S. tariff hike due Friday with a mix of trepidation and indignation at being dragged into a trade war they feel they have little to do with.
Her rosé wine business has boomed in recent years thanks to American demand for the beverage. She fears her U.S. sales could drop by a third under the new tariffs.EU vows to retaliate against US tariffs European producers feel they are collateral damage from a political squabble entirely unrelated to their business.
That has created additional anxieties, with Spanish olive producers worried that U.S. buyers will turn to buying from Italian companies instead. WTO-authorized sanctions are supposed to prod the trade combatants into resolving their differences. But Trump, who has labeled himself"Tariff Man," has enthusiastically slapped import taxes on foreign steel and aluminum and on thousands of Chinese products in separate disputes and has bragged that the levies raise revenue for the U.S. government.
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