Tariffs and the Fine Wine Market with Robbie Stevens Liv-ex Part 1
This show was published Friday, May 30, 2025
- Tariffs and the Fine Wine Market with Robbie Stevens Liv-ex Part 1
Overview
We are talking with Robbie Stevens, Head of Broking at Liv-ex about the effect of tariffs on the US fine wine scene.
This show is in two parts, today we talk about what has happened but also look back at the Trumps first presidency to understand what happened when tariffs were imposed on France and other European countries.
In Trump's first administration, a 25% tariff was imposed in January 2020 on still wines from France, UK, Spain and Germany due to the long running trade dispute between Airbus and Boeing over government subsidies, dating back to 2004. These countries made Airbus parts.
The tariffs were applied up to still wines with alcohol levels below 14.5% abv and bottle weights below 1.5 lts, and excluded large formats, sparkling wines and Italian wines, markets which boomed at the time. The market was hit initially but buyers found ways around the tariffs. Biden put a pause on the tariffs when he took over the Presidency, and the market bounced back immediately.
When Trump was elected for a second time in Nov 2024, there was the expectation that trade tariffs would be brought back but without any details of what and when. From mid-Feb 2025 it was clear wine would be targeted which caused a drop off in purchasing amongst US buyers. Currently any EU wine exported to the US will attract a 10% tariff.
Liv-ex has kindly given us free access to their May 2025 Market Intelligence report, normally only available to members.
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The music used for the UK Wine Show is Griffes de Jingle 1 by Marcel de la Jartèle and Silence by Etoile Noire.
