Trump's tariffs "threaten" the Italian wine industry - Domestic revenues could fall by over 320 million euros per year
US tariffs have cast a shadow over the Italian wine industry, with domestic exporters calling for swift action from the Italian government and the European Union to address growing challenges in the international market.
Italian wine producers, who see the US as a critical export destination, have raised strong concerns about rising costs following President Donald Trump's announcement of a "reciprocal" 20 percent tariff on EU goods.
Once the tariffs take effect, the price of wine exported from Italy to the US will increase accordingly. According to Lamberto Frescobaldi, president of the Italian winemakers' association Unione Italiana Vini (UIV), Italian wine revenues could fall by around 323 million euros a year due to the announced taxes.
Ca'Montebello, located in the Oltrepo Pavese region of northern Italy, exports over 90 percent of its production to the U.S. Alberto Scarani, the third-generation heir to the family vineyard, noted that the recent U.S. tariff policy will significantly impact their market.
"Ca'Montebello now owns more than 45 hectares of land. And in total, we are producing almost 300,000 bottles a year. So, we are selling our wine abroad in many countries, in China, Japan, South Korea, Australia, the US, Canada, Brazil, Mexico and all over Europe. But the main buyer is the US, which is buying more than 90 percent of the production," Scarani said.
"As you know, in the last few months Trump was elected and we know that we have had some problems with tariffs. For Italy, the tariff was 20 percent. And it affected my market and the final price in the store or in the restaurant. Before the tariff, if you sell wine for $10, the maximum price you can sell in the restaurant will be $50. In between, there are different stages, I mean duties, shipping, importers and distributors, and many other factors that will change the price. Before the tariff, in the restaurant it was around $50. Now with the 20 percent tariff, it will go up to $60 per bottle. So it is changing a lot, especially for cheap wine. The price will increase significantly and people do not want to spend more money on cheap wine," he said.
He hopes the European Union will find a solution to the tariff challenges. “So, for now, I will not go to the United States for the next three months until we find a solution with the tariffs. I hope that our politicians, our prime minister, can find a solution with the entire European community on these tariffs,” Scarani said.
European Political Community Summit in Tirana - Rinas "Mother Teresa" Airport, with important announcement
On May 16, the European Political Community Summit will take place in Tirana, where heads of state from many European Union countries are expected to......
230 million lek for the Llogara tunnel - ARRSH announces the company that will be responsible for safety and maintenance
With a bid of around 230 million lek, the Albanian Road Authority has announced the winning company for the maintenance of the Llogara tunnel for the next 4......
Trump, in defense of Hollywood - Announces 100% tariffs on films produced outside the US
United States President Donald Trump announced a 100% tariff on films produced outside the US, saying the domestic film industry is experiencing a "very......
Fuel and coffee consumption increases - Excise goods, fewer cigarettes cleared
Albanian citizens and foreign tourists have started this year with increased consumption of fuel and other excise goods. By March 2025, approximately 158.7......
Tax on salaries "fills" the state coffers - 3-month period/ 168 million euros more collected. TAP increases by 35.7%
The state budget has collected 181.1 billion lek as of March this year. Official data from the Ministry of Finance shows that compared to the period......
In three months, 223 complaints about tenders - The state budget benefited from 13.4 million lek from financial fees
In the first three months of this year, 223 complaints from economic operators were addressed to the Public Procurement Commission. Meanwhile, in March, 81......
Skype "retires" after two decades - The platform will be replaced by the Microsoft Teams service
Skype will operate for the last time on May 5, as owner Microsoft is pulling the plug on the online calling service that redefined the way people connect......
How has this week started for the major currencies?
The US dollar continues to lose points this week as it was bought today for 86.3 lek and sold for 87.3 lek compared to the previous week according to the......
