Last month the World Trade Organization authorized the EU to impose $4 billion in tariffs on US imports in the ongoing dispute. The 16-year feud, which centers around subsidies given to Boeing and Airbus, is now the WTO’s longest-running corporate dispute.
The WTO authorized the US to implement 25% tariffs in October 2019 on a range of EU goods – including wine, spirits and liqueurs made in certain countries – worth $7.5 billion.
According to an article in The Drinks Business, US imports of wines mentioned in the tariff legislation from Germany, France, Spain and UK fell by 54% between Nov 2019 and July 2020 compared to the same period last year.
See the full story here.