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BRUSSELS: The European Union stated on Thursday that its prized wine industry would likely face new US tariffs alongside most European exports, though negotiations continue to secure exemptions.
A weekend trade agreement between Brussels and Washington will impose a 15 percent levy on EU goods starting Friday, with some exceptions like aircraft already confirmed.
France, Italy, and other wine-producing nations are advocating for alcohol, including champagne and spirits, to be excluded from tariffs in the final deal.
“We do not expect wine and spirits to be exempted in the first group announced by the US tomorrow, meaning the sector will be subject to the 15 percent rate,“ said European Commission spokesman Olof Gill.
The commission remains committed to securing as many exemptions as possible, including for wine and spirits.
“Negotiations with US partners are ongoing,“ Gill added.
The US is the top export market for European wines, making up 27 percent of total export value.
The newly agreed 15 percent tariff is significantly higher than the previous average of 4.8 percent but aligns with the additional 10 percent flat rate imposed by the Trump administration since April.
While the broad principles of the deal were outlined on Sunday, many specifics remain unresolved.
Gill noted that efforts are underway to finalise a joint statement for clarity, though it will not be legally binding.
“The US has made commitments, and now implementation is their responsibility,“ he said.
Most US obligations under the deal are expected to be executed via executive order. – AFP
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BRUSSELS: The European Union stated on Thursday that its prized wine industry would likely face new US tariffs alongside most European exports, though negotiations continue to secure exemptions.
A weekend trade agreement between Brussels and Washington will impose a 15 percent levy on EU goods starting Friday, with some exceptions like aircraft already confirmed.
France, Italy, and other wine-producing nations are advocating for alcohol, including champagne and spirits, to be excluded from tariffs in the final deal.
“We do not expect wine and spirits to be exempted in the first group announced by the US tomorrow, meaning the sector will be subject to the 15 percent rate,“ said European Commission spokesman Olof Gill.
The commission remains committed to securing as many exemptions as possible, including for wine and spirits.
“Negotiations with US partners are ongoing,“ Gill added.
The US is the top export market for European wines, making up 27 percent of total export value.
The newly agreed 15 percent tariff is significantly higher than the previous average of 4.8 percent but aligns with the additional 10 percent flat rate imposed by the Trump administration since April.
While the broad principles of the deal were outlined on Sunday, many specifics remain unresolved.
Gill noted that efforts are underway to finalise a joint statement for clarity, though it will not be legally binding.
“The US has made commitments, and now implementation is their responsibility,“ he said.
Most US obligations under the deal are expected to be executed via executive order. – AFP
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