Dazi, after so much suspense there is no exemption for wine
ROME – The chapter “wine, spirits, and beer” and the long-awaited zero tariff exemption are the major absentees in the joint statement on tariffs agreed upon today by the EU and the United States. The new U.S. tariff regime towards the European Union, with a maximum and comprehensive tariff rate of 15%, does not spare wood, and therefore barrels, nor the wine companies that today see the anticipated exemption fade away.
A blow, calculate the Italian producers, amounting to 317 million euros over the next 12 months, further aggravated by the weak dollar that makes the exchange unfavorable. The new tariff regime establishes that products already subject to most favored nation (‘MFN’) tariffs of 15% or higher will not face further burdens. And from September 1, several groups of goods, including cork, will be subject only to MFN tariffs, as part of a special regime that the EU aims to extend to other categories of goods.
But, said the EU Commissioner for Trade Maros Sefcovic, “unfortunately, we were not able to include wine, spirits, and beer among the sectors that would continue to be at ‘MFN’ level.” However, he specified that “the doors are not closed forever: as the EU Commission, we will work as hard as possible to expand the sectors” to include wine and liquors. After so much suspense for Italian winemakers and distillers, today is indeed the day of the cold shower, which adds to six months of uncertainties that are affecting sales overseas.
“Immense disappointment” is also expressed by French wine and spirits producers and exporters. However, the game for made in Italy is not over. On the contrary. And the Government does not hide that the agri-food sector is an aspect on which it remains committed, along with other European countries, to fight for its inclusion in the exempt sectors. Meanwhile, the Italian Wine Union (Uiv) estimates the damages of what is being called “a blow.” According to the Uiv Observatory, the damage for businesses is about 317 million euros accumulated over the next 12 months, while for overseas trading partners, the lost earnings will rise to nearly 1.7 billion dollars. The damage would rise to 460 million euros if the dollar were to remain weak.
“It will be – observes the Uiv president, Lamberto Frescobaldi – a very difficult second half of the year, while hoping that in ‘extra time’ the parties can correct their course.” An invitation to “continue negotiating” comes from Luigi Scordamaglia, CEO of Filiera Italia, recalling that the value of Italian wine exports to the United States in 2024 was about 1.9 billion euros, representing 24% of the total Italian wine export. Meanwhile, for Pecorino Romano cheese, the U.S. market is worth 170 million euros, specifies Confagricoltura. (AUGUST 21)
