America threatens trade war with the EU with wine in the firing line
America threatens trade war with the EU with wine in the firing line, but how much US wine is sold in the EU?
Th US this week announced plans to start a new trade war by threatening $11 billion tariffs on a number of goods, including wine.
According to the Washington Post the US side argues that the measures are in response to EU subsidies for the European aerospace corporation Airbus — subsidies that the World Trade Organisation (WTO) has said create a disadvantage for Boeing. The threatened US tariffs could still be avoided if the EU ended those controversial subsidies, a US official said.
The balance of wine trade between the US and EU is biased in the EU's favour. In 2017 the EU exported €3.5 billion ($3.9 billion) to the US, while in 2018 the US exported €529 million ($469 million), with the EU being the largest importer of American wine.