A new wave of tariffs under President Trump’s administration could significantly impact the Italian wine industry, with losses potentially approaching €1 billion (£830 million, $1.1 billion), according to the Unione Italiana Vini (UIV).
This warning follows President Trump’s announcement that the US plans to impose a 25% tariff on European Union (EU) products, although the inclusion of wine in these measures has not yet been confirmed. While the specific details remain unclear, the US government’s recent actions, including the imposition of tariffs on goods from China, Canada, and Mexico on March 4, have signaled a strong commitment to pursuing tariff policies.
In response, Ontario’s newly re-elected Premier Doug Ford has vowed to retaliate against Trump’s potential tariffs. Ford has threatened to remove all US wines, beers, and spirits from the shelves of Ontario’s state-owned alcohol retailer, the LCBO.
The UIV, representing Italy’s wine sector, stressed that the effects of such tariffs would be felt across the entire industry. The US remains the world’s largest wine market, despite a decline in consumption in recent years. If the US proceeds with a 25% tariff on EU goods, including Italian wine, the UIV estimates that Italian wine exports to the US could fall by as much as €472 million year-on-year. Furthermore, the association warned of broader economic repercussions in other key markets, including Canada and the EU, potentially resulting in a €920 million reduction in the global value of Italian wine exports, alongside a decline in domestic wine sales.
UIV President Lamberto Frescobaldi called on American importers and distributors to work together to mitigate the impact of any tariffs on Italian wines. Italian wine exports to the US were valued at approximately €1.9 billion in 2024, accounting for nearly a quarter of Italy’s total wine export revenue.
Frescobaldi, alongside other European wine trade organizations, has urged for intensified diplomatic efforts between Brussels and Washington to avoid further economic damage.
In November 2024, American importers hurried to stock up on Italian wines, particularly Prosecco and other sparkling varieties, possibly in anticipation of potential tariffs following Trump’s re-election. During Trump’s first term, Italian wines largely avoided additional tariffs imposed on some European wines, particularly French still wines, as part of a broader dispute over aerospace industry subsidies. This dispute was temporarily paused under the Biden administration.
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