WASHINGTON - U.S. consumers, companies and workers will pay the biggest price for proposed 100% tariffs on French Champagne and other sparkling wines, cheese, porcelain, enamel cookware and handbags, witnesses told the U.S. government on Tuesday.
Those tariffs would come on top of 25% tariffs already imposed on a wide range of European imports, including Airbus jets, European cheeses, wines and other products in a dispute with the European Union over aircraft subsidies. Washington last month said it could raise those tariffs to 100% and subject additional EU products to the tariffs unless a settlement was reached.
“The domino effect of unintended consequences from the proposed tariffs would be catastrophic for tens of thousands of American businesses,” Aneff told U.S. government officials at a hearing hosted by USTR on the French tariff issue. Overall, the tariffs on European wines were expected to cost some $10 billion in lost revenue and 78,000 job losses, hitting the nation’s 47,000 wine retailers and more than 6,500 importers and distributors disproportionately hard, Aneff said.
“We’re not going to be able to do it forever,” he said. “Once it hits 100% ... that’s when the American consumer is going to feel the effect of it.” David Waldenberg, president of BNP Distributing, said lower revenues would result in the loss of some $100 million in state, local and excise taxes collected on alcohol sales.
Never mind the industry as a whole. Theses a lot more to it, than just by American wine.
There are plenty of good wines from South Africa, New Zealand, Australia and South America, stop buying French.
Buy local. NorthCarolina
mjkeenan this is your big chance!
Drink American, Australian, Chilean, Argentinian, South African, etc wines...
we'll have to switch to Russian vodka. oh well.
Drumpf doesn't drink wine. Anything HE (or his grifter family) doesn't use is targeted.
Look for Mexican Wines.
That's fine. It's the year of the Mad Dog anyways.
If only the U.S. made wine.
I can get hammered just as easily on American wine. No biggie.
Does wine really make you live longer or is it a French marketing trick? Thinking...
Napa valley is smiling....
I'm glad it is after the New Year. I would have missed my on budget Veuve Clicquot to welcome the new year.
Trump is going to put American businesses out of business with these retaliatory tariffs. And many of them are small mom-and-pop businesses, too. They're the ones who stand to lose the most from his childish games.
Wine Cave Pete to the rescue!
Yawn. We have tons of great American products.
Taste like St anyway. Australia wine and California wine are the best in the market.
Nice to know what's important at this point in time. Typical French obnoxiousness
I will stick to water with ice.
American wineries will do very well then
But Trump wine. That’s what he’s aiming for.