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The French wine industry welcomes the election of Joe Biden

2020-11-08T14:23:42.665Z


The Trump administration last year imposed a 25% tariff on bottled French wines.The wine industry is delighted with the election of Joe Biden at the head of the United States. The organizations representing this sector hope that this new leader will allow Europe and the United States to settle their trade disputes, exacerbated under the presidency of Donald Trump and which heavily affect French wine exporters. Read also: The keys to understanding French wine victim of Trump


The wine industry is delighted with the election of Joe Biden at the head of the United States.

The organizations representing this sector hope that this new leader will allow Europe and the United States to settle their trade disputes, exacerbated under the presidency of Donald Trump and which heavily affect French wine exporters.

Read also: The keys to understanding French wine victim of Trump

"

I hope that the first subjects (of discussion between the future American administration and Europe) can be to return to customs duties and allow to remain in normality

" on the taxation of French wines, reacted to from AFP Jérôme Despey, secretary general of the FNSEA and chairman of the wine specialist council of FranceAgriMer, a semi-public body in charge of agricultural markets.

A loss of 400 million euros in one year

In mid-October 2019, the Trump administration imposed a 25% tariff on French bottled, non-sparkling wines of less than 14 degrees, but also on those from other European countries, thereby risking sharply increase the price of French wines across the Atlantic.

This tax was imposed by the occupant of the White House in retaliation to a trade conflict between the aircraft manufacturer Airbus and its American competitor Boeing, and through them Brussels and Washington, on the subject of public aid paid to the two groups, judged illegal on both sides.

It had serious consequences for the French sector, with a cost of more than one million euros per day for French companies, a loss of 400 million euros in one year, said on Saturday the Federation of exporters of French wines and spirits (FEVS).

Read also: US Presidential election: no substantive change expected on the trade front

The next American president, who will take office in January, however, has said little about the trade conflict between Europe and the United States, recognizes Jérôme Despey, himself a winegrower in the Hérault.

"

Joe Biden has never mentioned the subject of taxes and the subject of aeronautics, but we can say that (his election) is favorable to a negotiation

", he believes.

The Minister of Economy and Finance, Bruno Le Maire, for his part affirmed Wednesday at the microphone of Radio Classique that the American election, whatever its result "

in the background will not change much to our commercial interests

".

"

I am convinced that this will not change with a

wave

of a magic wand

", recognizes Jérôme Despey, "

but we must do everything to create a more peaceful climate

", a challenge that the next American president is, according to him, more able to

meet.

note that its predecessor.

Source: lefigaro

All business articles on 2020-11-08

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