When the subject of tariffs came up with a Trump-supporting friend the other day, she didn’t have the faintest idea of how it is decimating the European wine trade in the U.S.
Wow, she said, it never occurred to her that it would affect an industry that she otherwise took for granted.
Trump supporters are among my best friends and I get it: they voted for that outer-borough bastard crook out of their interest and not mine.
Yesterday, Trump and the EU entered into a nominal agreement that would set the tariff rate to 15 percent (before Trump it was 2.5). But as with all things having to do with the great American dealmaker (ha!), the devil is in the details.
As of today, it’s still possible that wine could be exempt. Steel, cars, and hi-tech are where what Trump cares about, after all. It’s also not clear whether or not the new tax will be applied to importers who “have their wine on the water.” Hopefully, these sticking points will be ironed out soon (excuse the mixed metaphors).
The bottomline, we may be closer to clarity and certainty but the future still remains cloudy and impossible to predict. This continues to be a huge issue for importers for whom long-term planning is key to their success.
The other hopeful news to arrive from Europe (although not reported by U.S. media) is that Italy has promised a billion Euros worth of subsidies to farmers there, including wine growers. The move was a necessary step to help keep the struggling wine industry alive (the U.S. is Italian wine’s biggest foreign market).
The best news comes from Houston: my good friend Stephanie Franklin launched her wine brand yesterday in our city. She has planted vines on her family’s land in Shankleville in Southeast Texas (about an hour north of where Tracie grew up).
Her story is as compelling as it is exciting and her first release, a fantastic Tannat (made from sourced fruit), was delicious last night.
Check out her story and how you can get involved here. Stephanie is a wonderful friend and a leader in our community. I am so excited for her and can’t wait to taste more!
