The U.S. decision to impose tariffs on French wines will penalize American consu...
PARIS - The U.S. decision to impose tariffs on French wines will penalize American consumers who will see a sharp rise in prices while severely hurting French producers on their largest export market, exporters said on Thursday.
The announcement came after the World Trade Organization gave Washington a green light to impose tariffs on $7.5 billion worth of EU goods annually in the long-running case. French wine exports to the United States totaled $1 billion in 2018, or about 20% of total exports. Champagne is not targeted by the extra duties.
“We can expect significant fall in sales that could be as much as 50% for wines below $15 because it will be very easy to turn to a Chilean or an Italian wine,” he said.
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