U.S. importers prosecco panic
ROME, Italy—President Donald Trump’s threats to impose new tariffs on European goods has caused Americans to suddenly stockpile their favorite Italian wines – especially the sparkling wine, prosecco.
US imports of Italian wine – 90% of that Prosecco – skyrocketed by 41% in November following Trump’s election, according to the Union of Italian Wines trade association.
Lamberto Frescobaldi, the president of the trade association says the data is clear: “Americans are not willing to give up on our wines.” This peak in orders is unprecedented in the history of Italy’s sparkling wine exports for the month of November, the association says.
President Trump says the European Union will be next in line, after his decision to impose stiff new tariffs on Mexico, Canada and China.
“It will definitely happen with the European Union. I can tell you that because they’ve really taken advantage of us,” Trump told reporters on Sunday.
He complained the EU doesn’t importing enough goods from the US. “They don’t take our cars; they don’t take our farm products. They take almost nothing, and we take everything from them.”
Almost one-quarter of its Italian wine exports are to the United States, according to the trade federation. Last year, Italy’s wine exports to the U.S. totaled 1.9 billion euros ($1.97 billion) according to Frescobaldi.
Italian wine growers are not the only ones concerned about the possible new tariff regime. The head of Italy’s fashion chamber has appealed to the Italian government to do what it can to protect the country’s second-largest industry.
Fashion generates 5% of Italy’s GDP and employs 1.2 million people. Italy exported 4.6 billion euros worth of luxury fashion — apparel, leather goods, jewelry, eye glasses and footwear — to the United States during the first 10 months of last year.
“If Trump penalizes the second industry in Italy, it is a pretty hostile declaration,” Carlo Capasa, the president of the Italian National Fashion Chamber said this week.
Frescobaldi of the Union of Italian Wines is also worried. In a statement posted on the trade association’s website, he appealed to Italian authorities to give “maximum attention” to the threat of US import tariffs, warning that this matter could prove to be “decisive for the commercial future of wine.”
A Song for the Cahaba River
As the Cahaba’s “charismatic” namesake lily blooms, an old festival and a new musical tribute celebrate Alabama’s longest free-flowing river.
3 years in, Sandy Hook families still wait to collect what Alex Jones owes them
The Infowars founder declared bankruptcy after families sued him for defamation and won more than a billion dollars in damages, but Jones has yet to pay them a dime.
Russia launches massive drone and missile attack on Ukraine, killing 3 in Kyiv
President Trump said the Russian leader Vladimir Putin had warned that he would retaliate for a covert Ukrainian attack in Russia last weekend that destroyed dozens of Russian bombers.
A surprise find in Michigan shows the extent of ancient Native American agriculture
Hundreds of acres in Michigan are covered in parallel rows of earth that are the remains of an ancient Native American agricultural system. The surprise find has archaeologists amazed.
Trump says it may be better to let Ukraine, Russia ‘fight for a while’
In an Oval Office meeting with German Chancellor Friedrich Merz, President Trump likened the war between Russia and Ukraine to a fight between two children who hate each other.
Smoke knows no boundaries: What Canada’s fires mean for the U.S. in the future
More than 200 wildfires are raging across Canada, sending a thick blanket of choking smoke through the U.S. Midwest. Experts says climate change means U.S. residents better get used to it.
