Trump tariffs: no exceptions for wine and spirits

The European Union and the United States sealed a written agreement on Thursday to end the trade war.

The outcome foresees a 15% tariff on most European sales to the United States, including wines and spirits, and eliminate levies or offer "preferential access" to American goods in the European market.

The EU will eliminate tariffs "on all American industrial products" and will offer "preferential access" to fishery and agricultural products such as nuts, dairy products, fruits, vegetables, pork, or processed foods.

As for the automotive industry, the pact foresees that tariffs will be reduced to 15% once the European Commission presents the legislative proposal to reduce the levies, expected this August.

As explained by the Trade Commissioner, Maroš Šefčovič, at a press conference in Brussels, he has the commitment of the US administration that if the legislation is presented this month, the tariffs on cars could be "retroactive to August 1."

The only products that have obtained exceptions to the 15% tariff are natural resources not available in America, aircraft and aircraft parts, generic pharmaceuticals and chemical precursors.

In addition, Washington guarantees that the 15% applied to all pharmaceuticals or semiconductors will be limited.

"Unfortunately, we have not been successful" in negotiations to include wine and spirits in the tariff exemptions, Šefčovič admitted, adding that they will continue to press.

Like the wine and spirits sector, steel, aluminum and copper have also not been included in the 15% flat rate, which will maintain 50% tariffs.

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