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EU-U.S. Tariff Negotiations Leave Wine and Spirits in Limbo
EU-U.S. Tariff Negotiations Leave Wine and Spirits in Limbo
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BTCCSquare news:
European wine and spirit makers are pushing for inclusion in the EU-U.S. tariff deal after European Commission President Ursula von der Leyen confirmed the sector's exclusion from the initial framework. The proposed 15% duties on select imports to the U.S. have created market volatility for alcohol stocks, with Pernod Ricard and Diageo seeing brief rallies before retreating.
Brewers underperformed despite Heineken's strong H1 results, reflecting broader concerns about softening U.S. and European demand. CEEV, representing European vintners, argues wine trade benefits both economies and should qualify for the proposed 0-for-0 tariff arrangement. Negotiations continue as stakeholders await clarity on the final product list.
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