Italian Wine Faces Stormy U.S. Market Amid Tariff Turmoil

Italian wine exports to the U.S. face a downturn with President Trump's 20% tariff on European imports. Producers and importers predict significant revenue losses and warn of a potential drop in U.S. wine consumption. Despite challenges, some producers remain hopeful due to Americans' strong preference for Italian wines.

The U.S. market for Italian wines like Prosecco and Brunello di Montalcino is experiencing turbulence amid new tariffs imposed by President Trump. These taxes threaten to impact one of Italy's most lucrative export markets.

Producers and importers gathered in Verona, expressed concern over the looming 20% tariff on European imports, predicting an annual revenue loss of 323 million euros for Italian wines. The Italian Wine Union hopes for a U.S.-EU deal to alleviate the tariffs.

Wine importers warn of a potential 25-35% drop in U.S. consumption, with mid-range prices increasing significantly. Despite these concerns, some Italian producers remain optimistic, counting on the enduring popularity of Italian wines among American drinkers.

(With inputs from agencies.)