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French wine exporters say U.S. wine taxes a sledgehammer to sector
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FILE PHOTO: Bottles of red wine are seen in the cellar of Chateau Le Puy in Saint Cibard, France, October 3, 2019. REUTERS/Regis Duvignau/File Photo
PARIS (Reuters) - The U.S. decision to impose additional tariffs on French wines and cognac, which come in addition to a first set of tariffs late last year, will cost the sector a total of over 1 billion euros ($1.23 billion), the French wine exporters’ federation said on Thursday.
The U.S. government on Wednesday said it would raise tariffs on certain European Union products, including wines from France, the latest twist in a 16-year battle over aircraft subsidies between Washington and Brussels.
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French wine exporters say US wine taxes a sledgehammer to sector The U.S. decision to impose additional tariffs on French wines and cognac, which come in addition to a first set of tariffs late last year, will cost the sector a total of over 1 billion euros (US$1.23 billion), the French wine exporters federation said on Thursday.
FILE PHOTO: Bottles of red wine are seen in the cellar of Chateau Le Puy in Saint Cibard, France, October 3, 2019. REUTERS/Regis Duvignau/File Photo
31 Dec 2020 07:20PM Share this content
French exporters sound alarm over US tit-for-tat tariffs
by The Associated Press
Last Updated Dec 31, 2020 at 8:28 am EDT
PARIS French wine exporters are warning that they’ll take a billion-euro hit in 2021 from the latest ratcheting-up of punitive tariffs between the United States and Europe in a trade row over aircraft subsidies.
The U.S. government announced Wednesday the imposition of additional tariffs on French and German wines and brandies, as well as aircraft manufacturing parts. They are the latest round of tit-for-tat tariffs in a years-long conflict over subsidies to plane makers Boeing and Airbus.
The French Federation of Wine and Spirits Exporters on Thursday decried the U.S. measures as “a sledgehammer blow” and estimated they could cost the sector more than 1 billion euros ($1.2 billion).