UIV President Frescobaldi Addresses Potential EU Counter-Tariffs: Highlighting Disproportionate Risk to European Wine Exports
“We reiterate our firm opposition and profound concern regarding the proposed inclusion of wine – and American whiskey – within the list of goods targeted for potential EU retaliatory tariffs. Annual European wine exports to the United States represent a trade flow approaching €5 billion, with Italy accounting for €2 billion of this figure. Conversely, imports of the targeted US products amount to a mere €318 million. This stark asymmetry in exposure clearly underscores the disproportionate risk involved.”
This position was articulated by Lamberto Frescobaldi, President of Unione Italiana Vini (UIV), subsequent to the European Commission‘s release of a revised list identifying US goods potentially subject to retaliatory tariffs, proposed in response to the universal tariffs imposed by the Trump administration.
President Frescobaldi further elaborated, stating, “This course of action risks triggering a detrimental escalation that could jeopardize an economic sector which, in Italy alone, contributes 1.1% to the national GDP and maintains a positive trade balance exceeding €7.5 billion. We appeal for a pragmatic approach, akin to that demonstrated by Italy’s Minister of Foreign Affairs, Antonio Tajani, who has consistently supported our rationale, which has been advocated within European fora.”