Biden backs down in tariff war with France: Winemakers celebrate as truce agreed with USA
French winemakers have voiced their relief at the agreement brokered between Washington and Brussels for four-month suspension of tariffs on the trade. Former President Donald Trump hit some French wineries in 2019 with a 25 per cent tariff on exports. The move came amid a wider trade war between the Trump White House and the European Union. The decision to drop the trade barrier by Joe Biden‘s administration as been welcomed by struggling France wineries.
Winemaker Florence Veilex told France 24: “It is a real relief. I think it’s great news for the profession.
“We will be able to get back to our 2019 sales levels.”
Discussing the impact the US trade tariffs had on her business Ms Vielex said her profits had fallen by ten percent.
She added: “We had to cut into our margins in a major way.