Most U.S. Tariffs Paused For 90 Days, Excluding China
Wine and spirits importers were granted a partial reprieve yesterday when President Trump announced a 90-day pause on most reciprocal tariffs that had been announced last week. The baseline 10% tariff on all imports remains in effect, but for now the European Union is being spared the 20% levy the president had initially planned. On the other hand, tariffs on Chinese goods have now been ramped up to 125%.
In response to the tariff pause, The U.S. Wine Trade Alliance issued a statement noting that the EU is scheduled to announce their retaliatory tariffs in a separate dispute over steel and aluminum on April 13th. “While (the EU has) taken Bourbon and wine off this list after heavy lobbying—which is very good news—it is possible that the U.S. could still retaliate in such a way that wine is impacted,” the group stated. “This of course would do disproportionate harm to U.S. businesses, and would not serve our nation’s interests, but it is something to consider. We expect to have more clarity by April 14th or 15th.”—Daniel Marsteller
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Tagged : Tariffs
