French wine, under Trump's "target" - 15% tariffs will cost the industry about 1 billion euros
France's wine and spirits industry is expected to lose around 1 billion euros if the United States imposes a 15% tariff on its products next week.
The measure, which is expected to take effect on August 7, 2025, is part of a broader US-EU trade agreement. But many details of this pact have not been made clear and some of them are still part of negotiations.
The French Federation of Wine and Spirits Exporters said the tax could cut a quarter of France's annual exports from the sector and put the jobs of around 600,000 people at risk.
The European Union is making a last-ditch effort to secure an exemption for specific sectors, including alcoholic beverages. However, officials warn that such an exemption is unlikely to be included in the list.
In addition to tariffs, fluctuations in foreign exchange rates between the euro and the dollar add to the economic challenges faced by exporters seeking to remain competitive in the US market.
"The impact will be even more severe, as it is associated with the decline of the US dollar in the United States. The effect of the measures could lead to a 25% reduction in sales in the United States," say sector experts.
Negotiations between EU and US officials are expected to continue, in the hope of reaching a more favorable decision for these key European products.
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