Italy Appeals for Diplomacy Amid Threat of U.S. Wine Tariffs

Italy's agriculture minister expressed concern but not fear over potential U.S. tariffs on wine. As trade tensions rise, Italy hopes diplomacy will prevent tariffs that could harm its essential wine export industry to the U.S., valued significantly to its economy.

Italy is taking a cautious yet composed stance as the United States considers imposing hefty tariffs on European wine imports. The country's agriculture minister conveyed hopes that diplomatic channels could stave off significant impact on a vital sector.

President Donald Trump has announced plans for a 200% tariff on wine and other alcoholic imports from Europe, heightening tensions in an ongoing trade dispute. As the White House prepares for a tariff announcement on April 2, uncertainty looms over Italian wine and spirits industries, which fear stalled exports to the U.S.

Despite potential repercussions, Francesco Lollobrigida emphasized diplomacy's role in navigating discussions with the U.S., a critical trading partner. Data indicates that Italy, whose wine export industry contributes over 1% to its GDP, remains keenly focused on securing the interests of its $8 billion export market. The wine sector is poised to spotlight its resilience at the upcoming Vinitaly trade fair in Verona.

(With inputs from agencies.)