Tariff, Tariff, Tariff! Wine, USA, Europe and Italy: what will be happen?

After the USA elections, the Italian wine industry (but not only) is wondering what will happen after the probable introduction of Trump’s tariffs on Italian wine. The new/old president wants to put import tariffs on practically everything that is not built, extracted, or produced within the United States, as he already did in 2019.

Numbers and Scenarios

With duties on wine and pasta, Americans will pay 10% more for their bottle of Chianti or Bordeaux. The same will happen for penne rigate or ready-made ragù, and we in Europe will perhaps sell a little less. The US alcohol sector has started to ask itself some questions, and so has the European one. Chris Swonger, president of the Distilled Spirits Council of the US (Discus), said the industry is ready to work with the new government, stressing the importance of the sector. It should also be noted that the old duties have not actually been eliminated, but only suspended until March 2025. Those tariffs could be reinstated, on the same goods as in 2019, and any changes will have to be approved by the Senate (with a Republican majority). I will try to give some numbers to frame the situation, particularly on Trump’s tariffs on wine, of course.