Tariff-free trading crucial to restore ‘balance and predictability’
As the US and EU are due to restart trade negotiations again today (24 November), trade body SpiritsEurope is urging a return to tariff-free trading for wine and spirits.
Wine and spirits were infamously excluded in the first group of tariff exemptions when the EU and US agreed a trade deal this summer.
Since the agreement struck in August, wine and spirits exported from the EU to the US have faced a 15% tariff. The EU has currently suspended retaliatory tariffs on American spirits until 5 February 2026.
Today, US commerce secretary Howard Lutnick and US trade representative Jamieson Greer will meet EU ministers responsible for trade.
Trade body SpiritsEurope hopes discussions will focus on shared goals from the joint EU-US statement in August, which noted a wish to return to ‘most favoured nation’ tariffs for “other sectors and products that are important for their economies and value chains”.
Mark Titterington, director general of SpiritsEurope, said: “For the European spirits sector, this language was, and remains, a vital signal of political will.
“We strongly support renewed efforts to advance these discussions, which are of vital importance to the spirits and hospitality sectors on both sides of the Atlantic. We also call on both sides to deliver on the commitments they made as a matter of urgency.
“Our sector needs timely, concrete results to restore balance and predictability in transatlantic trade.”
In August, Aperol owner Campari Group forecast a potential tariff impact of up to €45 million (US$51m) as it announced its second-quarter financial results.
A study in August also warned a 15% tariff on EU wine and spirits imports could result in almost 60,000 job losses, while raising prices for American-made products.
Titterington continued: “A full return to tariff-free transatlantic spirits trade is within reach.
“With constructive engagement and a shared commitment to honour the agreement made this summer, both sides can deliver a win for growth, investment, and consumers.
“We urge negotiators to use today’s meetings as a springboard toward completing this work swiftly.”
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