New Tariffs Threaten Wine & Spirits Industry

/ / Businesss

Leaders of the wine industry are asking the community to rally and appeal tax hikes. As the industry continues reeling from losses related to COVID-19, a new round of potential tariff hikes threatens the industry. In 2020, a 25% tariff imposed on certain European wines and cheeses was described by some as the greatest threat to the wine and spirit industry since the prohibition era. U.S. President Donald Trump imposed the tariffs in retaliation for a tax imposed in France on several large American tech ferns, such as Facebook, Google and Airbus.

Read more (Vinepair)