Italian Sparkling Wine Exports Surge Amid Tariff Fears

Exports of Italian sparkling wine to the U.S. surged in November due to fears of new tariffs. The Unione Italiana Vini reported a 41% increase in export volumes that month, amid warnings of potential duties by then-President Donald Trump. Italian wine exports to the U.S. are significant to the economy.

Exports of Italian sparkling wine, including prosecco, soared to record levels in November amid fears of impending tariffs on the sector. Recent data from the industry group Unione Italiana Vini (UIV) revealed a significant 41% growth in export volumes, up from a 19.5% increase noted over the first eleven months of the year.

This surge follows a 'sudden rush to stockpile' sparked by speculation over potential duties on imports, expected to be imposed by newly inaugurated President Donald Trump. According to UIV, this remarkable increase sets a new record for November's export figures.

The importance of the American market is underscored by UIV's chairman, Lamberto Frescobaldi, who noted that with an estimated export value surpassing 1.9 billion euros by 2024, the United States accounts for 24% of Italy's wine exports. Amid promises of retaliatory tariffs by Trump, Italian winemakers are watching the situation closely.

(With inputs from agencies.)