Italian Wine Group Calls for Certainty Amid US Tariff Pause
MILAN (Reuters) - Italian wine and spirits trade group Federvini said on Thursday that U.S. President Donald Trump's decision to pause most tariffs represents "a step in the right direction", but the remaining 10% duty and uncertainty are a drag on the sector.
"A 10% tariff may be manageable in the short term, but it is neither sustainable nor desirable for the future... we need regulatory certainty and a clear and stable trade framework," Federvini's president Micaela Pallini in a statement.
Last year, Italy sold 2 billion euros ($2.2 billion) worth of wines, spirits and vinegars in the U.S. market, a quarter of its total worldwide exports, according to Federvini figures.
However, fears over the effects of potential tariffs slowed exports last month and producers and U.S. importers gathered at a wine fair in Verona, in the north-eastern Veneto region last weekend, voiced concerns about the outlook.
(Reporting by Elisa Anzolin; Editing by Keith Weir)
