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Tariffs Threaten French Wine Industry's Vintage Success

Tariffs Threaten French Wine Industry's Vintage Success French wine producers are expressing their deep concern over the newly imposed 20% tariff by the US, spearheaded by President Donald Trump, which threatens to severely damage a sector heavily reliant on the American market. French President Emmanuel Macron has warned of a 'massive' impact due to these changes.Vincent Dampt, a winemaker from the Burgundy region, described the tariffs as 'bad news' but admitted relief that it wasn't the initially threatened 200% hike. He emphasized the need for negotiation rather than confrontation between the EU and US, as a trade war would be detrimental to his and many others' businesses.The Bourgogne Wine Board has projected a significant financial hit, estimating a potential loss of up to 100 million euros. Despite these challenges, the industry leaders, including Macron, stress that the US will also face adverse effects from this tariff decision, impacting economies and jobs on both sides.

French wine producers are expressing their deep concern over the newly imposed 20% tariff by the US, spearheaded by President Donald Trump, which threatens to severely damage a sector heavily reliant on the American market. French President Emmanuel Macron has warned of a 'massive' impact due to these changes. Vincent Dampt, a winemaker from the Burgundy region, described the tariffs as 'bad news' but admitted relief that it wasn't the initially threatened 200% hike.

He emphasized the need for negotiation rather than confrontation between the EU and US, as a trade war would be detrimental to his and many others' businesses. The Bourgogne Wine Board has projected a significant financial hit, estimating a potential loss of up to 100 million euros. Despite these challenges, the industry leaders, including Macron, stress that the US will also face adverse effects from this tariff decision, impacting economies and jobs on both sides.

(With inputs from agencies.).