Reported 3 days ago
President Trump's proposal of a 200% tariff on European wines is already creating turmoil in the struggling wine industry, with producers facing surplus stock and uncertain market conditions. European wineries, which were already grappling with declining consumption, are seeing orders from their major US market dry up, leading to significant losses. As the impending tariffs loom, winemakers are left in a precarious situation, unsure of how to manage their inventory or sustain their businesses.
Source: YAHOO