financetom
Business
financetom
/
Business
/
French wine, spirits sales in US expected to fall 20% after tariff announcement
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
French wine, spirits sales in US expected to fall 20% after tariff announcement
Apr 2, 2025 3:43 PM

PARIS, April 2 (Reuters) - Sales of French wine and

spirits are expected to slide at least 20% in the United States

after U.S. President Donald Trump announced reciprocal tariffs,

the French wine and spirits exporters group FEVS said on

Wednesday.

Trump said the United States would impose a 20% duty on

imports from the European Union.

The French wine and spirits industry had already been

under pressure, with exports globally

falling

for the second consecutive year in 2024 due to threats of

U.S. tariffs, a softer Chinese market and lower prices.

FEVS chairman Gabriel Picard described the 20% tariff on

EU beverages as colossal.

"It will have a very significant impact on business in

the United States ... a very significant impact on the American

consumer," he told Reuters.

The United States is the largest market for French wine

and spirits, with shipments to the U.S. rising 5% in 2024 to 3.8

billion euros ($4.12 billion).

Exporters include LVMH, which owns Moet et

Chandon champagne and Hennessy cognac, as well as Pernod Ricard

and Remy Cointreau.

($1 = 0.9234 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Synopsys set to wipe out 2025 gains as shares tank on China business woes
Synopsys set to wipe out 2025 gains as shares tank on China business woes
Sep 10, 2025
(Reuters) -Shares of Synopsys fell nearly 35% on Wednesday, erasing the chip design software provider's 2025 gains, as Sino-U.S. trade tensions hurt its quarterly revenue and left investors mulling the future of its China business. Successive U.S. administrations have attempted to restrict Beijing's access to American chip technology, limiting U.S. firms' reach into a key semiconductor market. This has hurt...
Centerra Gold Enters 'Significant' Investment Phase Amid Near-Term Headwinds, RBC Says
Centerra Gold Enters 'Significant' Investment Phase Amid Near-Term Headwinds, RBC Says
Sep 10, 2025
10:59 AM EDT, 09/10/2025 (MT Newswires) -- Centerra Gold ( CGAU ) is in a significant investment phase as it advances key projects like Thompson Creek, Goldfield and Kemess, but its near-term performance is weighed down by weak production at Mount Milligan and declining output at Oksut, RBC Capital Markets said in a note Tuesday. Analysts, including Michael Siperco, said...
Paradise Acquires Laurie Rowe Communications Inc., Strengthens Tourism Public Relations Roster & Expertise
Paradise Acquires Laurie Rowe Communications Inc., Strengthens Tourism Public Relations Roster & Expertise
Sep 10, 2025
The acquisition marks a strategic step forward for continued innovation and destination media relations and storytelling scale and reach ST. PETERSBURG, Fla.--(BUSINESS WIRE)-- Paradise Advertising & Marketing, Inc. (Paradise), a certified woman-owned nationally recognized full-service marketing agency specializing in tourism and destination marketing, today announced the acquisition of Laurie Rowe Communications, Inc. (LRC), a respected public relations agency known...
Gateway Investment Advisers Closes Acquisition of Belmont Capital Group’s Business
Gateway Investment Advisers Closes Acquisition of Belmont Capital Group’s Business
Sep 10, 2025
CINCINNATI & BOSTON--(BUSINESS WIRE)-- Gateway Investment Advisers (“Gateway”), a pioneer in options-based investment strategies and affiliate of Natixis Investment Managers (“Natixis IM”), today announced the successful closing of its previously announced acquisition of the business of Belmont Capital Group (“Belmont”), a Los Angeles-based provider of customized, options-based separately managed account (SMA) strategies. This press release features multimedia. View the full...
Copyright 2023-2026 - www.financetom.com All Rights Reserved