U.S. Duties: Federvini expresses deep regret and strong concern following the decision taken by the U.S. Administration to apply duties on products imported from the European Union.
A choice that represents a serious step backward in the principles of international free trade and will severely damage transatlantic interchange, with particularly damaging effects on the competitiveness of agribusinesses.
The Italian wines, spirits and vinegars sector alone is worth more than 2 billion euros in exports to the United States. It involves 40 thousand companies and more than 450 thousand workers along the entire supply chain.
The measure will also have major impacts on overseas consumers and traders: thousands of U.S. company employees are involved in the import and distribution of these products, and the price increase will not be limited to the duties imposed, but will extend to the entire trade chain.
The president’s statement on U.S. duties
“The decision to apply duties to European exports to the United States is a very serious damage to our industry. A direct attack on the free market. We have been there before, and we know what it can cost. In the past, these measures have led us to lose up to 50 percent of our exports to the US. Now we risk reliving that economic trauma, with very heavy repercussions on the entire supply chain. From production to distribution to the end consumer. What is needed now more than ever is unity and determination on the part of our institutions to contain the devastating effects of these unnecessarily protectionist and anti-historical measures ” said Federvini President Micaela Pallini.
Many labels that cannot be replaced by local production will disappear from the tables of U.S. consumers. While a serious production and employment crisis looms in Italy and Europe.
Federvini is in full agreement with the international representative associations of the wine and spirits sector. They have long been jointly active in calling for a diplomatic resolution that is fair and respectful of international trade rules. I renew my appeal to European and national institutions to make an urgent commitment to reopen the transatlantic dialogue and work toward a negotiated solution capable of averting such a critical scenario.
