In the latest chapter of President Trump’s war on Free Trade, Small Businesses at home and abroad are the most likely victims of the ongoing trade spat between Boeing and Airbus.
Wine is an easy political target for populist rants despite the widespread democratization of wine consumption in America. Recent data indicates that wine’s share of consumption continues to rise to nearly 3 Gallons per capita per year.
Realistically though, European wineries have already pivoted to the faster growing markets in Asia. China’s imports 8.3% of France’s total wine exports, combined with the rest of Europe’s 41.2% share, totalling 49.5%.
Comparatively, the US’s total of 17% of French wine exports seems middling at best.
Some industry professionals estimate that the tariffs will destroy $10Bn from the US economy and potentially risk over 75,000 jobs from truck drivers to warehouse workers and salespeople.