American importers are stockpiling Prosecco, the popular Italian sparkling wine, as a precaution against potential tariffs threatened by President Trump. US imports of Italian sparkling wine surged 41% in November 2018, after Trump's election, exceeding consumer demand. Importers are building up inventory in anticipation of price increases if tariffs are imposed. Italian wines were not affected by tariffs during Trump's first term, but the prospect of increased trade barriers has led to proactive measures within the industry.
American importers have been stockpiling the popular Italian bubbly Prosecco as a hedge against the possible impact of tariffs threatened by President Donald TrumpA sommelier opens Prosecco bottles during a wine testing in Asolo, Italy, Monday, Oct. 15, 2018. Global sales of prosecco the smooth, drinkable sparkling wine rooted in the northeastern hills of Italy are booming, and champagne, the original bubbly, is taking note. U.S.
“Can we survive without a glass of wine? Yes. Wine is a pleasure,’’ Frescobaldi told The Associated Press this week. Italy exports nearly one-quarter of its wine to the United States, leaving the sector more heavily exposed to possible tariffs than any other Italian export, according to the trade federation. Last year, Italy’s wine exports to the U.S. totaled 1.9 billion euros .
The first signs of market concern showed up even before Trump was elected, with Prosecco shipments to the United States increasing 17% in the first 10 months of 2024. That compares with more modest single-digit increases to the next two markets, Britain and Germany, and far outpacing U.S. consumption which rose just 0.6% in the period.
Tariffs Prosecco Italian Wine Importers Trade
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US importers stockpile Italian Prosecco as a hedge against possible Trump tariffsAmerican importers have been stockpiling the popular Italian bubbly Prosecco as a hedge against the possible impact of tariffs threatened by President Donald Trump.
Read more »
Prosecco Stockpiling as US Importers Brace for TariffsAmerican importers are stockpiling Prosecco, the popular Italian sparkling wine, in anticipation of potential tariffs on European goods threatened by President Trump. This precautionary measure comes after a 41% surge in U.S. imports of Italian sparkling wine (mostly Prosecco) in November 2016, following Trump's election. Importers are filling their pipelines ahead of potential price increases due to tariffs, exceeding current consumer demand. Although no tariffs have been imposed on Italian wines yet, the wine industry remains vigilant due to the significant exposure of Italian wine exports to the U.S. market.
Read more »
American Importers Stockpile Prosecco Amid Trump TariffsWorried about potential tariffs on Italian wines, American importers are stockpiling Prosecco, leading to a 41% surge in November imports. The article explores the impact of Trump's trade policies on the global wine industry and the implications for both American consumers and Italian producers.
Read more »
American Importers Stockpile Prosecco Ahead of Potential TariffsAmerican importers are building up stockpiles of Prosecco, the popular Italian sparkling wine, as a precaution against possible tariffs threatened by President Donald Trump. Imports of Italian sparkling wine, primarily Prosecco, surged by 41% in November after Trump's election, outpacing consumer demand. Importers are taking this step due to uncertainty surrounding potential tariffs and a belief that consumers might reduce their spending on luxury items like wine if prices increase due to tariffs.
Read more »
American Importers Stockpile Prosecco Amid Tariff FearsAmerican importers are stockpiling Prosecco in anticipation of potential tariffs on Italian wines threatened by President Donald Trump. U.S. imports of Italian sparkling wine, primarily Prosecco, surged by 41% in November following Trump's election, exceeding consumer demand. Importers are taking precautionary measures to protect the market, as Italy exports a significant portion of its wine to the United States.
Read more »
Prosecco Importers Stockpile Ahead of Potential US TariffsAmerican importers are stockpiling Prosecco as a hedge against potential tariffs threatened by President Donald Trump. Shipments of Prosecco surged by 41% in November 2018, far exceeding consumer demand. This precautionary measure is driven by uncertainty surrounding the possibility of tariffs on Italian wines and the anticipation of consumers cutting back on luxury items if prices increase. Italy exports a significant portion of its wine to the United States, making the wine sector particularly vulnerable to tariffs. Prosecco has become the top-selling Italian wine in the U.S., accounting for nearly 40% of all sales.
Read more »