French winemakers to lose over €1 billion due to US tariffs

1 August 2025, 19:47 Finance Macroeconomics

The United States is a leading importer of French wines and cognac

The French wine and spirits industry could lose €1 billion if the US imposes 15% duties, according to a report by the Federation of French Wine and Spirits Exporters (FEVS).

If duties are introduced, the volume of annual exports of alcoholic beverages from France will decrease by a quarter, which will also entail job cuts. It is noted that up to 600 thousand employees employed in the industry may be at risk of dismissal, RIA Novosti notes. The European Commission previously stated that it continues negotiations with the United States in the hope of exempting wines and strong alcoholic beverages from duties.

The United States, along with China, is the leading importer of French wines and cognac.