Italy’s wine sector faces mounting pressure from the twin threats of renewed U.S. tariffs and a strengthening euro, according to industry group Federvini. Giacomo Ponti, president of Federvini — the Italian federation of wine, spirits, and vinegar producers — warned that the combined effects of potential trade barriers and unfavourable exchange rates could significantly undermine the resilience of Italian wine exports.
The Trump administration has proposed reinstating tariffs on European wine imports, with a 10% duty already seen as burdensome by producers. A 20% rate, Ponti said, “would be devastating, especially for the small and medium-sized enterprises that form the backbone of Italy’s wine industry. Some Italian wineries depend on the U.S. market for more than half of their annual revenue,” he added. “For them, such a tariff hike would effectively close off their main non-European export destination.”
The proposed tariffs were originally set to return on July 9 but have been postponed until August 1. The delay offers little reassurance to producers already grappling with stagnant global demand. Ponti cautioned that renewed barriers could push iconic Italian wines — including Prosecco, Chianti, Pinot Grigio, and Moscato d’Asti — off U.S. shelves.
“This isn’t just an economic threat,” Ponti said. “It endangers decades of commercial and cultural ties and risks eroding a strategic pillar of Made in Italy. At a time of global uncertainty, what’s needed is responsibility and pragmatism — not punitive protectionism.”
Adding to the sector’s challenges is the currency outlook. The euro has appreciated steadily in recent months, reaching around $1.18 — a notable shift from near-parity just six months ago. Some forecasts suggest it could climb to $1.25 in the near term. “For a sector exporting products with already-tight margins, such a swing in the exchange rate can have an even more punishing effect than tariffs,” Ponti warned. “Ignoring this risk would be a serious strategic miscalculation.”
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