The French wine and spirits sector continues to fight to put an end to the sanctions that affect it, as part of the standoff that began months ago between the United States and the European Union over aircraft construction. Economic sanctions between partner countries generally always have a strong symbolic aspect, the better to mark people’s minds. And this time the United States decided to strike harder than when they attacked the pie makers.
The wines and spirits sector weighs heavily on the French trade balance and, to take just this example, 98% of cognacs are sold for export in volume and almost 50% to the United States alone. However, on December 30, the United States government announced new customs sanctions, applicable from January 12, against this emblematic European sector, particularly in France. Between 2019 and October 2020, American imports of overtaxed French wines were halved, representing a loss of 600 million euros in turnover for exporters.
+ 25% customs duties from October 18, 2019