MILAN (Reuters) -Italian wine and spirits exports to the United States are stalling due to the uncertainty over possible tariffs that President Donald Trump could impose in the coming weeks, trade group Federvini said on Wednesday.
Trump has threatened to slap a 200% tariff on wine and other alcohol imports from Europe, as part of a developing trade war also involving steel and aluminium products. The White House is expected to make a major tariff announcement on April 2.
“Our members have received requests from importers to suspend shipments, as no one wants to risk bottles being hit by tariffs once they arrive in the U.S.”, Federvini’s president Micaela Pallini told Reuters.
“After an initial front-loading phase, in which companies tried to anticipate shipments, the market is now at a standstill: importers fear they will find themselves with unsellable stock at uncompetitive prices”, she added.
Pallini pointed out that some U.S. restaurants are running out of some bottles, while prices for available stock are increasing.
On Tuesday, Italian prosecco producers said their shipments to the U.S. had been halted due to importers’ worries about tariffs, while Wednesday’s edition of business paper Il Sole 24 Ore quoted a Tuscan wine producer as saying that his company, Ruffino, had 1 million bottles blocked at the port of Livorno as all U.S. orders for March had been cancelled.
The slowdown comes after Italian sparkling wine exports to the U.S soared in the last half of 2024, in anticipation of the new duties.
The heads of three prosecco trade groups wrote to Italian Agriculture Minister Francesco Lollobrigida saying they risked facing tariff hikes of up to 200%, and urging him to take action at national and European level.
Italian conservative Prime Minister Giorgia Meloni is one of few European leaders friendly with Trump and his administration but it is unclear how far this could benefit Italy, given its strategic ties within Europe.
(Reporting by Elisa Anzolin, editing by Alvise Armellini, Aidan Lewis)
Comments