French President Emmanuel Macron is set to convene all representatives of business sectors hit by the US import tariffs at Elysee Palace in Paris later today.
As we’ve been reporting, Donald Trump unveiled a 10% minimum tariff on most goods imported to the US – with a higher 20% rate for the European Union.
The French wine and spirits industry had already been under pressure, with exports globally falling for the second consecutive year in 2024 due to threats of US tariffs, a softer Chinese market and lower prices.
The FEVS, the company in charge of French wine exports, has described the 20% tariff on EU beverages as colossal.
“It will have a very significant impact on business in the United States – a very significant impact on the American
consumer,” FEVS chairman Gabriel Picard said.
The US is the largest market for French wine and spirits, with shipments to the US rising 5% in 2024 to $4.12bn.
Source: Skynews
