MILAN (Reuters) – Exports of Italian glowing wine resembling prosecco to the U.S. surged by a file quantity in November earlier than attainable tariffs on the sector, the newest accessible knowledge from business group Unione Italiana Vini (UIV) confirmed on Wednesday.
Export volumes grew 41% in November, in contrast with a 19.5% progress within the first 11 months of the 12 months general, based on the business physique.
The UIV stated there had been a “sudden rush to stockpile” in anticipation of attainable duties on imported items to be imposed by President Donald Trump, who took workplace on Monday. UIV stated such a rise units a file for the month of November.
Exports of Italian bottled nonetheless wines elevated by 17% in November, UIV knowledge confirmed.
“With an export worth that can exceed 1.9 billion euros ($2 billion) in 2024, the US accounts for twenty-four% of Italian wine exports,” UIV’s chairman Lamberto Frescobaldi stated in a press release.
Trump has vowed to hit the European Union and different international locations with tariffs in response to their commerce surpluses with the U.S. ($1 = 0.9599 euros)
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