Trump Tariffs Hit U.S. Wine Industry as Disaster

Media: Trump's Tariffs Could Be a Disaster for US Wine Producers

According to NBC, a representative of the industry said that the trade tariffs imposed by the US government could be a disaster for wine producers in the country.

"The rejection of American wine by Canada and the international tariffs of President Trump's administration have exacerbated the difficulties of the already struggling wine industry, making it difficult for them to recover... The result could be a disaster for the US wine industry," NBC noted.

The report stated that the US wine industry lost a large amount of income from exporting goods to Canada, which is the largest importer of American wine in the world. The channel reminded that Canada began boycotting American wine last month, removing it from store shelves and restaurant menus across the country.

In addition, tariffs may also cause problems for American producers purchasing products needed for wine production from overseas. The channel pointed out that due to high reciprocal tariffs, the price of purchasing empty wine bottles from China might become too expensive. Moreover, tariffs will also affect the cost of purchasing barrels from France and corks from Spain.

Source: https://www.toutiao.com/article/1829689430713347/

Disclaimer: This article solely represents the author's viewpoint.