The Italian Union of Wines (UIV) said
Thursday that Italy's wine sector faces an annual loss in
revenue of around 323 million euros a year due to the new
tariffs imposed by United States President Donald Trump.
"With these bloody American duties at 20%, the sector will have
to cut its revenues by 323 million euros per year, or see much
of our output eliminated from the market," said UIV President
Lamberto Frescobaldi,
"So, UIV is convinced that is necessary for our companies to
make a pact with our overseas commercial allies, who profit more
than us from imported wines; we need to share the burden of the
extra cost and avoid passing it on to consumers.
"It will be difficult for many (companies).
"But what is even more frightening today is the prospect of a
lethal game of upping the stakes by the American and European
administrations.
"It is fundamental that the EU accepts Foreign Minister Tajani's
proposals to exclude alcoholic beverages, and therefore wine,
from any disputes".
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