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US importers and retailers of EU wine warn of closures, layoffs from tariffs

U.S. importers, distributors and retailers selling French champagne and Italian wines told Reuters that U.S. President Donald Trump's threatened 200% tariff on European alcoholic drinks would hit them hard.
The article from MSN discusses the concerns of U.S. importers and retailers of European Union (EU) wines due to potential new tariffs. The U.S. is considering imposing retaliatory tariffs on EU products, including wines, in response to a long-standing dispute over aircraft subsidies involving Airbus and Boeing. These tariffs could significantly increase the cost of EU wines, potentially leading to business closures and layoffs within the U.S. wine industry. Industry representatives have warned that such measures would not only affect their businesses but could also disrupt the supply chain, increase prices for consumers, and reduce the variety of wines available in the U.S. market. They are urging the U.S. government to reconsider these tariffs to avoid economic harm to both American businesses and consumers.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/money/topstories/us-importers-and-retailers-of-eu-wine-warn-of-closures-layoffs-from-tariffs/ar-AA1ARPfy ]