HARTFORD, Conn. (WFSB) – Tariffs on steel and aluminum put in place by the Trump administration mean canned drinks like beer and soda will start to cost more.
Now, the president is threatening tariffs on European liquors. This means the price of your favorite wine could be going up too.
The proposed tariffs on European wines and spirits is 200%.
That means even if you’re buying what might be considered a cheap bottle of wine that costs $10, that price would jump to $30.
“I think we would have to close. We have been in business 39 years, but a 200% tariff just wouldn’t work. There’s no way,” said Julius Angelini, Angelini Wine President.
Angelini is the president of Angelini Wines, one of the country’s 4,000 wine distributors and importers.
His company has finally started to move past the impacts the Covid-19 pandemic.
Now, with the potential 200% tariffs on liquors from the European union that the Trump administration announced last week, he doesn’t see how his business would be able to stay afloat.
“You can’t get a Brunello made in the United States. You can’t get a champagne made in the United States. So, they are very specific,” Angelini said.
According to the US Wine Trade Alliance, for every $1 in damage these tariffs would cost the E.U., it would cost American businesses $4.52.
“Americans get hurt. It’s not just the winery in Italy saying, ‘don’t sell so much wine.’ It’s also the importer, the wholesaler, the retailer, and those are all Americans,” Angelini said.
“It’s not really something you can tell people, ‘Oh, it’s just inflation,’” said Guy Simonelli, Essex Wine and Spirits Manager. “We had one customer last week and he said, ‘Hey, this bottle I’m buying for $22 is going to be $66 when the tariffs come in’ and I said, ‘Sorry, man.’”
Simonelli says his store’s retailer is already stocking up on wine and liquor from the E.U. in hopes that that will hold off on sticker shock for their customers.
But Angelini says his wines take weeks to months to ship. That means some orders expected to be here by April could already be hit with the new tariffs.
“If I have a container that costs $50,000, I would have to come up with $100,000 in two weeks. It’s just unattainable really,” Angelini said.
Angelini says he’s holding off on placing new orders until there is a clearer timeline on if and when these tariffs will go into effect.
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