Tariffs: Wine sector still has hope in negotiations
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Tariffs: Wine sector still has hope in negotiations

Tariffs: Wine sector still has hope in negotiations

Frederico Falcão, president of ViniPortugal, says that "this is very bad news for the wine sector, which has the United States as its main market."

The news that Donald Trump will impose 30% tariffs on the European Union "is very bad for the wine sector, which has the United States as its main export market," Frederico Falcão, president of ViniPortugal, told JE. Even so, he remains hopeful that negotiations can prevent the tariffs from coming into effect: "I hope Europe will negotiate, which is what it should have been doing a long time ago."

If the 30% rate is indeed increased, “it will be very damaging for the Portuguese wine sector,” which will see one of its most important markets decline.

jornaleconomico

jornaleconomico

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