A fresh round of US tariffs under president Trump’s new administration could wipe close to €1bn (£830m, $1.1bn) off the value of Italian wine exports globally, the Unione Italiana Vini (UIV) estimated.
Its warning came after president Trump said the US intended to impose additional import tariffs of 25% on European Union (EU) products, although it wasn’t clear whether wine would be among the targets.
While the timing and details weren’t confirmed, the new US administration showed its willingness to follow through with tariff threats after imposing new levies on goods from China, Canada and Mexico on Tuesday (4 March).
In Canada, newly re-elected Ontario premier Doug Ford promised to fight back against Trump. He has threatened to pull all US wines, beers and spirits from the shelves of Ontario state-owned alcohol retailer LCBO.
Italy’s UIV said the impact of US tariffs would be widespread for Italian wineries.
The US is the world’s biggest wine market, even though consumption has been falling in recent years.
If the US imposes 25% tariffs on EU goods, including wine, then Italian wine exports to the US could fall by €472m year-on-year, UIV estimated.
It also warned of the knock-on economic impact of US tariffs in other key markets, notably fellow EU countries and Canada.
This ripple effect could mean a €920m hit to the value of Italian wine exports globally, plus a fall in domestic wine sales, UIV said.
UIV president Lamberto Frescobaldi appealed to ‘our American partners – importers and distributors’, to help cushion the blow of any additional tariffs on Italian wine imports in the US itself.
Italian wine exports to the US reached approximately €1.9bn in 2024, accounting for nearly one quarter of Italy’s total wine export value.
Frescobaldi joined other European wine trade bodies in calling for maximum effort in diplomacy and negotiations between Brussels and Washington.
American businesses rushed to stock up on Prosecco and other Italian sparkling wines in November last year, said the UIV a few weeks ago, speculating that this may have been an effort to get ahead of possible tariffs following Trump’s election victory.
Italian wine escaped additional US tariffs levied on some European wines during president Trump’s first term in office.
These duties, which included many French still wines, were part of a wider dispute over aerospace industry subsidies, which was paused by the Biden administration.
