Frescobaldi (UIV), following the European Commission’s publication of the new list of U.S. products subject to possible counter-tariffs, said it is foolish to include wine as well.
“We reiterate our absolute opposition and concern regarding the inclusion of wine-and American whiskey-in the list of EU counter-duties. European wine exports to the U.S. are worth nearly 5 billion euros a year, 2 billion of which go to Italy; those from overseas come to just 318 million euros: the disparity of risk seems quite telling.” This was said today by the president of Italian Wine Union (UIV), Lamberto Frescobaldi following the European Commission’s publication of the new list of U.S. products subject to possible counter-tariffs hypothesized in response to the universal duties Of the Trump administration.
“Thus, ” Frescobaldi added. we risk a ‘lose-lose escalation’ that jeopardizes an economy that in Italy alone is worth 1.1 percent of GDP and an active trade balance worth more than 7.5 billion euros. We ask for common sense, the one shown by our foreign minister, Antonio Tajani, who from the beginning had espoused our reasons, represented in the European forum.” .
