What does US election mean for wine?
As we all woke up here in the UK to the news that Trump will be the 45th US president, what does it mean for the US wine industry the worlds fourth largest wine producer? Well a Trump administration has both a swings and roundabouts effect on the industry. Trumps plans to evict immigrant workers poses a very serious threat to agriculture, though his interest in reducing government regulation of farms (and, by extension, vineyards) is something that could likely benefit them. Obama was seeking to push through the Trans-Pacific-Partnership TPP trade deal. The TPP writes the rules for global trade among the United States and 11 Asia-Pacific countries: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The deal seeks to promote trade and strengthen the relationships between the 12 nations by reducing and eliminating tariffs, fostering competition, and creating greater opportunities for businesses. The countries involved have also agreed to promote environmental protection practices and enforce laws protecting workers. Obama has sought the backing of Congress to get this passed after the November election. However Trump was against it and is likely to withdraw from the agreement. Any uncertainty in the US may mean greater caution among fine wine buyers and potentially affect a recovery of the fine wine market in general in 2016.As the US dollar falls we await to see when the dust settles what the real impact will be. And in other election related wine news - did you know Trump, a tee-totaller, owns a vineyard in Virginia? Does that mean White House dinners will be seeing a lot more Virginian wines on the table?