Tariff Realities and Strategies for the Wine and Spirits Business
The imposition of 25% tariffs on some categories of European wine and spirits in October of 2019 sent a shock wave through the import business. The subsequent threat of 100% tariffs emanating from two US-EU trade disputes magnified that shock 100-fold, threatening to essentially destroy the importation of European wines and many spirits altogether. What is the reality of living in a business environment with tariff threats and actions as a part of your daily business operations? What are some strategies to adopt to deal with tariffs? Where are the risks and opportunities that face our industry going forward?