Vino101

Imported wine prices could be headed lower? Ursula Von der Leyen President of the European Commission and President Biden have agreed to suspend all tariffs with regard to the Airbus-Boeing dispute for four months. President Von der Leyen, the first woman elected to head the European Commission is responsible for setting the Commission’s policy agenda and is just 15 months into a five year term that started in December of 2019. She’s quickly gaining allies in the food and agriculture sectors of Europe by working with President Biden who himself has been in office less than ten weeks to pause the tariffs as officials work to negotiate a longer lasting agreement that can benefit all parties. European wine imports have dropped substantially since the wine tariffs were put into affect in October of 2019. This brief respite will give importers and retailers welcomed relief from the punishing penalties of the increased taxes amidst a pandemic. We’ll have to wait and see if consumers benefit from the unexpected wi