Alas, fabulous news for the wine industry and French winelovers! The United States and European Union are suspending wine tariffs for four months, which went into effect on March 11, 2021. The tariff pause is on most French, German and Spanish Wines. This brings huge relief to the industry, as imports of French wine were down more than 50 percent from January to June 2020. The pandemic did not help matters within the industry.
This shows a hopeful beginning for change. President of DMS Wine, Alex Milligan, reflects on the news. “As a family importer of only French wine, the tariffs were a huge challenge these last 16 months, not just requiring us and our partners to raise our prices, but also due to the enormous upfront tax costs that we never had to deal with previously.”
This news is a huge relief – Best news we’ve had in a very long time! It’s also fantastic news for French winelovers, who can now pay the actual price the wineries intended for their delicious juice – instead of having to over-pay as a result of the tariffs.
“I want to thank everyone who sent a note, mailed a letter, made a phone call, walked the halls of congress or just bought a bottle of our wine when it cost 25% more than it should,” says Alex. To learn more read here.