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Drinks groups hope to be exempted from 15% US tariff on EU

goods

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EU alcohol exports to US topped $10 billion in 2024

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Cognac and champagne makers particularly reliant on US

market

By Emma Rumney and Jessica DiNapoli

LONDON/NEW YORK, July 27 (Reuters) - European Union wine

and spirits producers could emerge among the few winners of a

EU-U.S. trade deal agreed at the weekend that some European

officials consider unbalanced.

The high-level agreement, which imposes a 15% baseline duty

for most EU goods entering the United States, is set to include

tariff exemptions for some agricultural products, still to be

hammered out.

Alcoholic beverages could be among those, according to trade

and industry officials.

"We are optimistic that in the days ahead this positive

meeting and agreement will lead to a return to zero-for-zero

tariffs for U.S. and EU spirits products," Distilled Spirits

Council President and CEO Chris Swonger said in a statement in

response to the U.S.-EU agreement.

On Monday, French Trade Minister Laurent Saint Martin also

said he expected the spirits sector to be exempted from U.S.

tariffs.

If confirmed, an exemption would offer a lifeline to alcohol

players including the world's biggest spirits maker, Diageo ( DEO )

, Pernod Ricard, Remy Cointreau and

Campari, all of which are very exposed to vast U.S.

market and whose profits have already taken a big hit as

consumers spend less on drink.

Shares in Pernod, Diageo ( DEO ) and Campari initially rose in early

trade. But they stood 1.3%, 0.4% and 0.3% lower by 0707 GMT.

Shares in Remy fell 2.2%.

Alcohol is among the EU's top exports to the United States,

worth about 9 billion euros ($10.5 billion) in 2024, according

to Eurostat data, with certain products like Remy Martin cognac

and champagne required to be produced in specific European

regions.

About one-third of all exports of Irish whiskey such as

Pernod Ricard's Jameson are destined for the United States.

Earlier in July, President Donald Trump had threatened a

crippling 30% tariff that some industry experts said could stop

flows of certain EU goods towards the United States.

The United States accounts for about 18% of exports for

another exclusively French product, champagne.

Of all exports of cognac from its namesake region in France,

about 43% end up in the United States. LVMH owns

Hennessy Cognac.

Remy Cointreau, which makes more than 70% of its sales from

French-made cognac, is among the alcohol makers hit hardest by

tariffs. It has pegged the hit from tariffs imposed globally at

about 45 million euros.

For cognac makers, the U.S. tariffs represent a fresh

challenge after producers of the drink managed this month to

avert the threat of duties of up to around 35% from China.

For Spanish and Italian wines, around 14% and 24% of total

exports, respectively, are sold in the United States.

Beer brewers and makers of popular ready-to-drink cocktails

will, however, continue to face tariffs on imported aluminum

they may use for cans. Under the EU-U.S. deal struck on Sunday,

Washington will continue to impose a levy of 50% on steel and

aluminum entering the United States.

($1 = 0.8518 euros)