The perspectives are not yet clear for the wine and spirits sector. After months of fears and uncertainties, the trade agreement between the United States and the European Union (EU) presented on Sunday July 27 did not raise all doubts.
« The EU and the United States announced yesterday that it has reached an agreement on transatlantic trade, which led to the implementation of a general customs right of 15 % on European exports intended for the United States, with certain exemptions which must still be specified. If this announcement avoids a dangerous escalation of the trade conflict, it must now be materialized by advances on the bilateral trade of spirits and wines ”reacted the Federation of Exporters of Wine and Spirits of France (FEVS), in a press release published Monday, July 28.
The subject is important. The United States has in fact reinforced, in 2024, its position as the first destination for the shipment of French wines and spirits, with a turnover of 3.8 billion euros, up 5 % over one year. An increase which could also be explained by a preventive storage effect of bottles before a possible ascent of the customs barrier. Wine sales alone weigh 2.3 billion euros, including 800 million euros for Champagne, the balance mainly from the marketing of cognac. This country alone represents almost a quarter of the total of total exports of French wines and spirits.
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