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)