• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2024 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on February 10, 2025

    Featured image for article about Headlines

    (This Feb. 10 story has been corrected to change the name of the trade body after it re-branded in January, in paragraph 7)

    By Corina Pons

    PENAFIEL, Spain (Reuters) - A top Spanish winemaker is hedging against anticipated tariffs by U.S. President Donald Trump on European Union products by sending extra stock to the United States that would allow them to stagger any price increases.

    Luisa de Paz, export manager for the Protos winery in the Ribera del Duero region, said the company has sent enough stock to the U.S. to cover up to six months should the U.S. apply a tariff to EU wine exports that the sector has been advised could be as much as 10%.

    "We began preparing ourselves at the end of the year after he was elected," De Paz said in reference to Trump. "We expedited orders so that they would have enough for the first six months. They have a security stock."

    Data shows Protos' competitors are also moving to protect themselves from potential tariffs while U.S. companies are expediting imports of everything from auto parts to Italian parmesan cheese and French cognac to prepare for the possibility of new tariffs as Trump threatens to lead previous global allies into a full-blown trade war.

    Wine exports from Spain to the U.S. rose by 20% in December, an increase the Spanish Wine Federation attributes in part to stockpiling by importers ahead of possible tariffs.

    Sending additional stock would allow importers to stagger price increases in the coming months should tariffs be introduced, De Paz said.

    The U.S. is the second-largest export market for Spanish wines after Germany, according to the Spanish Wine Interprofessional Organisation. Protos exports around 250,000 bottles a year to the U.S., its second biggest export market after Mexico.

    In 2019, during Trump's first term, the U.S. imposed tariffs of 25% on certain wines and other spirits from four European countries, though they did not directly impact Spain.

    Spain could lose out to competitors such as Argentina, which might in any potential trade war benefit from President Javier Milei's close relationship with Trump, said Miguel Sanz, director of the certifying authority for the Ribera del Duero region's wines.

    (Reporting by Corina Pons, Guillermo Martinez and Violeta Santos; editing by Charlie Devereux)

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe