US 25% tariff on European wines; 100% "digital" tariff on French products called off for the moment

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Victor Hong
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1001 Post by Victor Hong » December 22nd, 2019, 8:29 pm

Alan Rath wrote:
December 22nd, 2019, 8:26 pm
Scott Brunson wrote:
December 21st, 2019, 10:38 am
D@vid Bu3ker wrote:
December 21st, 2019, 9:20 am
Things such as wine are not generally covered in anti-price gouging laws, but the concept of gouging applies regardless of the commodity.
I will be noting which of my regular suppliers are gouging and which are not. When all of this madness ends, I will concentrate my buying accordingly.
Seems like a bit of a tricky situation. If a retailer raises prices on in stock wines, foreseeing that they may go through a rough period of not being able to get many wines to replace those, reduced sales and revenue, is that gouging? I can't really answer that, but I'm also not going to be too harsh of a judge, unless there is real evidence of the retailer taking advantage of the situation at the expense of its customers. I can see the logic of trying to make a bit more money from current inventory to keep a shop afloat through an yet to be determined period of financial difficulty.
Let us put it this way: no retailer wants the situation.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1002 Post by Scott Brunson » December 23rd, 2019, 2:53 am

Alan Rath wrote:
December 22nd, 2019, 8:26 pm
Scott Brunson wrote:
December 21st, 2019, 10:38 am
D@vid Bu3ker wrote:
December 21st, 2019, 9:20 am
Things such as wine are not generally covered in anti-price gouging laws, but the concept of gouging applies regardless of the commodity.
I will be noting which of my regular suppliers are gouging and which are not. When all of this madness ends, I will concentrate my buying accordingly.
Seems like a bit of a tricky situation. If a retailer raises prices on in stock wines, foreseeing that they may go through a rough period of not being able to get many wines to replace those, reduced sales and revenue, is that gouging? I can't really answer that, but I'm also not going to be too harsh of a judge, unless there is real evidence of the retailer taking advantage of the situation at the expense of its customers. I can see the logic of trying to make a bit more money from current inventory to keep a shop afloat through an yet to be determined period of financial difficulty.
Alan, I agree.
I will monitor carefully because there is a difference between raising prices moderately to stay afloat and gouging.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1003 Post by Jud Reis » December 23rd, 2019, 6:24 am

If you have the time and energy, it may be worth trying to petition the USTR for an exclusion. There was a portal set up for the Chinese tariffs, not sure if there is one set up for the European tariffs. I was skeptical that the USTR would do anything, but my team did a great job putting together our case (impact on consumers and work force) and most, but not all, of our requests for exclusions were granted. My understanding is that we will receive repayment for the last 12 months of tariffs already paid and not have to pay for another 12 months. All bets are off after that.

Very sorry to see the impact this will have.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1004 Post by D@vid Bu3ker » December 23rd, 2019, 6:28 am

Focused exclusions, such as for futures already ordered by customers (or other existing but not yet shipped orders), would likely stand a better chance.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1005 Post by howard marc spector » December 23rd, 2019, 7:38 am

I predict Trump will end these by end of 1Q2020.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1006 Post by Nola Palomar » December 23rd, 2019, 8:08 am

D@vid Bu3ker wrote:
December 23rd, 2019, 6:28 am
Focused exclusions, such as for futures already ordered by customers (or other existing but not yet shipped orders), would likely stand a better chance.
Or maybe based on being a small business based on the volume of past imports.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1007 Post by Gordon Fitz » December 23rd, 2019, 8:10 am

It is my understanding the tariffs are on The imported prices not the retail prices. I clearly remember a Barolo producer raising hell about importers beating him up on price. He said his price to his importers was $20 per bottle delivered. He visits them and after all the mark ups by the importers, distributors, and retailers its shell price is $80-$85 . In Italy it solufor the equivalent of $30. 25% of $20 is $5 additional. How many times will the chain mark up that $5 ?

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1008 Post by Nola Palomar » December 23rd, 2019, 8:23 am

Gordon Fitz wrote:
December 23rd, 2019, 8:10 am
It is my understanding the tariffs are on The imported prices not the retail prices. I clearly remember a Barolo producer raising hell about importers beating him up on price. He said his price to his importers was $20 per bottle delivered. He visits them and after all the mark ups by the importers, distributors, and retailers its shell price is $80-$85 . In Italy it solufor the equivalent of $30. 25% of $20 is $5 additional. How many times will the chain mark up that $5 ?
Gordon,
The current tariff in place is 25% cost to the importer. The new tariff is 100%. So whatever price they pay in France, Italy, Spain etc. when it lands it is given that value added tariff in addition to the already long standing duties and taxes. The importer has to pay this so it ends up being part of his cost. That cost then goes to the wholesaler, the the retailer and finally the consumer. But no worries, at 100% you won't be paying it, because the importer cannot pay that staggering price and they will not be able to import any wines.

As a winery owner, my winery price to the public in Spain has zero to the left to do with the pricing in the US. Importers do get export prices, but nothing in comparison to the duties, taxes and tiered pricing of the State Liquor control now add a VAT of 100%...forget it.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1009 Post by Doug Schulman » December 23rd, 2019, 9:19 am

JonathanG wrote:
December 21st, 2019, 6:11 pm
D@vid Bu3ker wrote:
December 21st, 2019, 12:54 pm
So they can stop selling the wines now rather than later. Buying will slow, and customers have a memory.
seems like it's a good way for the retailers to see if people are willing to pay the higher price before they commit to replacement stock. If people don't pay, then just lower the price back and don't replace.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1010 Post by Gordon Fitz » December 23rd, 2019, 9:37 am

Nola;

My point was if a bottle hits an importer at $5 per bottle and the retail shelf at $18, all of the parties can make the same gross profit off a $23 bottle price with the new tariffs. It’s the system trying to price it at $30+ is our issue.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1011 Post by T Mikula » December 23rd, 2019, 11:32 am

I was having this discussion with someone the other day. What are people expecting what was a $100 bottle of wine to price at post-100% tariff?

Does this mean I now buy bottles that were $60, pre-tariff? Do I buy 5 bottles of the pre $100 wine, instead of 6? Does the availability of these wines mean they're much harder to find? i think this all depends on the first question, what type of price increase are we talking about here.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1012 Post by D@vid Bu3ker » December 23rd, 2019, 11:53 am

We talked the math earlier in the thread. It could be anywhere from 50-100% higher price, all dependent on whether importers, distributors and retailers stick to markup percentages or settle for a set dollar amount that equaled prior profit dollars. No way to know for sure.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1013 Post by D@vid Bu3ker » December 23rd, 2019, 12:01 pm

howard marc spector wrote:
December 23rd, 2019, 7:38 am
I predict Trump will end these by end of 1Q2020.
Not appropriate for this mostly non-political thread, but PM to me the basis for your assertion.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1014 Post by RichardFlack » December 23rd, 2019, 12:19 pm

Gordon Fitz wrote:
December 23rd, 2019, 9:37 am
Nola;

My point was if a bottle hits an importer at $5 per bottle and the retail shelf at $18, all of the parties can make the same gross profit off a $23 bottle price with the new tariffs. It’s the system trying to price it at $30+ is our issue.
This was discussed up-thread. The short answer is that it seems that everyone aims for the same gross % margin, not the same $ margin. Makes no sense to me in a situation like this, but I'm not running a business and its clear that it makes sense to everyone else. :)
Having said that, different businesses could adopt different strategies to preserve some level of sales and stay in business. As Nola and others say, its hard to see how, at 100% tariff, this does not end badly.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1015 Post by Matt Mauldin » December 23rd, 2019, 12:32 pm

Alan Rath wrote:
December 22nd, 2019, 8:26 pm
Scott Brunson wrote:
December 21st, 2019, 10:38 am
D@vid Bu3ker wrote:
December 21st, 2019, 9:20 am
Things such as wine are not generally covered in anti-price gouging laws, but the concept of gouging applies regardless of the commodity.
I will be noting which of my regular suppliers are gouging and which are not. When all of this madness ends, I will concentrate my buying accordingly.
Seems like a bit of a tricky situation. If a retailer raises prices on in stock wines, foreseeing that they may go through a rough period of not being able to get many wines to replace those, reduced sales and revenue, is that gouging? I can't really answer that, but I'm also not going to be too harsh of a judge, unless there is real evidence of the retailer taking advantage of the situation at the expense of its customers. I can see the logic of trying to make a bit more money from current inventory to keep a shop afloat through an yet to be determined period of financial difficulty.
Alan, I think that's a fair assessment. I'd think having some flexibility on the back-end of the tariffs to LOWER prices on existing stock would also play into the strategy of strategic increases on the front end.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1016 Post by Doug Schulman » December 24th, 2019, 3:48 am

Matt Mauldin wrote:
December 23rd, 2019, 12:32 pm
Alan Rath wrote:
December 22nd, 2019, 8:26 pm
Scott Brunson wrote:
December 21st, 2019, 10:38 am

I will be noting which of my regular suppliers are gouging and which are not. When all of this madness ends, I will concentrate my buying accordingly.
Seems like a bit of a tricky situation. If a retailer raises prices on in stock wines, foreseeing that they may go through a rough period of not being able to get many wines to replace those, reduced sales and revenue, is that gouging? I can't really answer that, but I'm also not going to be too harsh of a judge, unless there is real evidence of the retailer taking advantage of the situation at the expense of its customers. I can see the logic of trying to make a bit more money from current inventory to keep a shop afloat through an yet to be determined period of financial difficulty.
Alan, I think that's a fair assessment. I'd think having some flexibility on the back-end of the tariffs to LOWER prices on existing stock would also play into the strategy of strategic increases on the front end.
It is. A lot of judgement is happening here with the assumption that retailers can simply replace sold inventory with the same items at a much higher cost and have no problem. That is not true. It's very common in other areas of retail to price based on replacement cost, and some wine retailers that work on low margins tend to do the same. As was mentioned earlier, pricing this way now will help to gauge interest in buying those wines at the new, higher prices. If there is far less movement of those items (extremely likely), at least the retailer isn't stuck with a bunch of inventory that is impossible to sell at a profit. Wine retail is a tough game with very thin net margins to begin with. Something like that could put a business in a very difficult position, and could easily put someone out of business if their focus is European wines. No retailer is looking at this situation and thinking they can make extra money.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1017 Post by David_K » December 24th, 2019, 7:52 am

Would the tariffs apply to EU wines coming from private collections in other places? For example, would the tariff apply to EU wine brought in from Asia or Canada from collectors at auction or otherwise, or is it only EU wines coming *from* the source in the EU?
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1018 Post by Kelly Walker » December 24th, 2019, 8:24 am

My understanding is that it does not matter where the product is imported from, only the origin of the product.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1019 Post by AndrewH » December 24th, 2019, 8:42 am

Kelly Walker wrote:
December 24th, 2019, 8:24 am
My understanding is that it does not matter where the product is imported from, only the origin of the product.
Yeah - otherwise there would be a huge loophole for transshipments through third countries. Or a huge loophole for "private collections" that exist only for a few seconds on paper.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1020 Post by Nola Palomar » December 24th, 2019, 9:52 am

Yes, FDA prior notice requires the FDA number of the producer that aligns with country of origin. There’s no way to get around this
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1021 Post by James Billy » December 24th, 2019, 7:10 pm

Well, they could just take the wines off the market for a few months until tariffs kick in and the put them back on the market and who would know when they were imported and hence if they are price gouging or not?

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1022 Post by Nola Palomar » December 26th, 2019, 8:10 am

I spoke at length with one of the executive office representatives this morning trying to gain better knowledge of the uncertainty the import industry faces in the next few weeks. The takeaway, is the 100% tariffs can go into enforcement at anytime (today even), they do not have to wait to get all the comments in to start imposing this tariff. The second takeaway, the USTR feels that this tariff is justified and that the blame goes back on the EU.

I encourage each and every person on this board to comment, pleading opposition to these additional 100% tariffs. To date there have been 1165 comments posted. We need more voices https://www.regulations.gov/document?D= ... -0003-2518 pleading to not impose this harm to our own importers and the rest of the wine and specialty food industry. Ask them to halt these tariffs and respect the numerous small US businesses that depend on the established lines of imports from Europe. These messages are read by the staff, analyzed, summarized and reported back directly to the Ambassador of the USTR and to the President. This is not a political statement (so Todd please don't move to Politics) and I'm asking for you voice your concerns so we ITB board members have a bigger voice.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1023 Post by David Glasser » December 26th, 2019, 1:24 pm

This may have been posted before, but here is a direct link to the comments page. Deadline is January 13:

https://www.regulations.gov/comment?D=U ... -0003-2518

While I have no expertise in this area, this is the comment I submitted. Feel free to steal from it, but use your own words.
Thank you for the opportunity to comment on the proposed 100% tariffs as part of the WTO Rights in Large Civil Aircraft Dispute. I am very concerned that the tariffs pose a disproportionate risk to small businesses such as importers of specialty foodstuffs such as wine and olive oil.

I am only a single individual with no business connections to importers, yet I personally know of at least three small importing businesses that would be shuttered should the 100% tariffs go into effect. These are Veleta, Hand Picked Selections, and Vinotas Selections. In the case of Hand Picked Selections, the proprietor has already laid off approximately 1/3 of his workforce due to the 25% tariffs. Implementation of 100% tariffs would cause all three businesses to close. If a single individual like me is aware of three such businesses, I can only imagine how widespread the devastation would be amongst small importers. They do not have the breadth of suppliers and diversity of goods that would enable them to make the necessary adjustments to survive the tariffs.

While I understand the purpose of the tariffs, as proposed they would have the unintended consequence of harming more US businesses than they would help. The bulk of the burden would fall on small businesses, mostly to the benefit of the largest corporations. This appears to conflict with the Administration’s stated support of small business.

I am requesting that the list of proposed items subject to the 100% tariffs be revised to eliminate items such as wine and olive oil and instead be concentrated on items exclusively imported and/or manufactured by large companies.

Sincerely,

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1024 Post by Nola Palomar » December 26th, 2019, 2:25 pm

Thank you, we need all the comments we can get. IDK if it will in the end really help or not, but???

The gentleman I spoke to told me that because the WTO ruled that the EU was at fault at 18 billion, that the US was essentially justified to impose a penalty much, much greater than that for all the punitive damages that's why the tariff went up to 100%. He recommended I also address the EU in Brussels, to try to impose to them not to continue to provide illegal subsidies to Airbus... He was pleasant but very convinced that the EU is the big bad wolf. This is not word for word verbatim, but you get the gist. There is no provision for hearings, there are no provisions to protect US importers from this fallout.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1025 Post by David Glasser » December 26th, 2019, 3:01 pm

Nola, that is why I suggested a focus on different items rather than flat-out opposition to the tariffs. I believe the tariffs will happen. My thought is to put the target on other items and propose a solution to address the concern I raised, though I’m not particularly optimistic.

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#1026 Post by JonathanG » December 26th, 2019, 7:01 pm

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1027 Post by Troy Stark » December 26th, 2019, 7:45 pm

David Glasser wrote:
December 26th, 2019, 3:01 pm
Nola, that is why I suggested a focus on different items rather than flat-out opposition to the tariffs. I believe the tariffs will happen. My thought is to put the target on other items and propose a solution to address the concern I raised, though I’m not particularly optimistic.
Serious question; what else do we import from Europe, besides food, clothing, and wine, in sufficient quantities to make the tariffs effective? Anything?
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1028 Post by Nola Palomar » December 26th, 2019, 8:08 pm

Troy Stark wrote:
December 26th, 2019, 7:45 pm
David Glasser wrote:
December 26th, 2019, 3:01 pm
Nola, that is why I suggested a focus on different items rather than flat-out opposition to the tariffs. I believe the tariffs will happen. My thought is to put the target on other items and propose a solution to address the concern I raised, though I’m not particularly optimistic.
Serious question; what else do we import from Europe, besides food, clothing, and wine, in sufficient quantities to make the tariffs effective? Anything?
Hmmm perhaps, Airbus components that are assembled in Mobile, Alabama?
But that wouldn’t be painful enough to the producers, importers and retailers.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1029 Post by David Glasser » December 26th, 2019, 8:17 pm

Nola Palomar wrote:
December 26th, 2019, 8:08 pm
Troy Stark wrote:
December 26th, 2019, 7:45 pm
David Glasser wrote:
December 26th, 2019, 3:01 pm
Nola, that is why I suggested a focus on different items rather than flat-out opposition to the tariffs. I believe the tariffs will happen. My thought is to put the target on other items and propose a solution to address the concern I raised, though I’m not particularly optimistic.
Serious question; what else do we import from Europe, besides food, clothing, and wine, in sufficient quantities to make the tariffs effective? Anything?
Hmmm perhaps, Airbus components that are assembled in Mobile, Alabama?
But that wouldn’t be painful enough to the producers, importers and retailers.
Maybe cars? Other than that, Troy, I got nuthin'. But I know next to nothing on the subject to begin with.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1030 Post by JonathanG » December 26th, 2019, 8:25 pm

https://ec.europa.eu/eurostat/statistic ... e_of_goods

There you go. food/beverage is tiny. maybe a 1% tariff on chemicals or machinery would have recouped the same amount of $$ but wouldn't have generated the same headlines...
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1031 Post by David Glasser » December 26th, 2019, 8:43 pm

Thanks Jonathan. So there are alternatives. My pessimism remains because of the apparent desire to make a political statement in addition to any financial considerations. Socking iconic European products like wine and cheese with a 100% import tariff makes that statement.

My hope is that shifting the focus to the harm to small businesses might gain some traction towards making a change, but I’ll admit I’m not very confident.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1032 Post by D@vid Bu3ker » December 27th, 2019, 5:08 am

Tools and chemicals are the biggies.

Putting tariffs on aircraft components would also hurt Boeing, so that’s not happening. It was actually considered quite a while ago, and not implemented due to collateral damage issues.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1033 Post by Troy Stark » December 27th, 2019, 7:07 am

Wow, that's crazy. A small tariff on chemicals and pharmaceuticals would definitely achieve the same result, but David is right - no political statement would be made. Form over function, I guess...
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1034 Post by AndrewH » December 27th, 2019, 7:33 am

David Glasser wrote:
December 26th, 2019, 8:17 pm
Nola Palomar wrote:
December 26th, 2019, 8:08 pm
Troy Stark wrote:
December 26th, 2019, 7:45 pm


Serious question; what else do we import from Europe, besides food, clothing, and wine, in sufficient quantities to make the tariffs effective? Anything?
Hmmm perhaps, Airbus components that are assembled in Mobile, Alabama?
But that wouldn’t be painful enough to the producers, importers and retailers.
Maybe cars? Other than that, Troy, I got nuthin'. But I know next to nothing on the subject to begin with.
Yeah, cars would be a big one, but there's a separate investigation there as to whether it's a national security issue (though I think Department of Commerce didn't act within whatever deadline it needed to).

I think it is fair to say that tariffs of this type have little to do with what's "fair" or makes sense (such as tariffs on aircraft or aircraft parts), but rather about maximum political pressure to get the EU to change the behavior deemed illegal/contrary to trade rules. The EU does the same thing when it imposes tariffs on US goods.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1035 Post by Dan Kravitz » December 27th, 2019, 8:01 am

The current administration's tariffs are designed to hurt the four countries that are part of the Airbus consortium and also designed to hurt Blue states.

European tariffs are designed to hurt Red states and swing states.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1036 Post by Nola Palomar » December 27th, 2019, 9:01 am

If you read the comments, you will see who it really hurts.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1037 Post by AndrewH » December 27th, 2019, 11:42 am

Nola Palomar wrote:
December 27th, 2019, 9:01 am
If you read the comments, you will see who it really hurts.
Collateral damage though. Same with consumers, and producers using Chinese goods as inputs.

(This doesn't mean I'm not sympathetic to your plight . . . )
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1038 Post by P@u1_M3nk3s » December 27th, 2019, 7:10 pm

https://www.washingtonpost.com/lifestyl ... tory.html

The impact on importers, restaurants and consumers gets noted in the Washington Post. Mentions Steve Edmunds and Jason Haas.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1039 Post by D@vid Bu3ker » December 27th, 2019, 7:24 pm

Made the mistake of reading the comments at the end of that article. Ugh.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1040 Post by Victor Hong » December 27th, 2019, 7:28 pm

P@u1_M3nk3s wrote:
December 27th, 2019, 7:10 pm
https://www.washingtonpost.com/lifestyl ... tory.html

The impact on importers, restaurants and consumers gets noted in the Washington Post. Mentions Steve Edmunds and Jason Haas.
Everybody has benefited from the trade war, and knows how good and easy they are to win. To hear all the support throughout America, you just have to ask the right people-----and ignore the farmers, factory workers, importers, exporters, small-business owners, consumers, etc.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1041 Post by D@ve D y r 0 f f » December 27th, 2019, 7:41 pm

D@vid Bu3ker wrote:
December 27th, 2019, 7:24 pm
Made the mistake of reading the comments at the end of that article. Ugh.
I didn’t until I say your comment. Most that I saw seem to be against the tariffs. I did appreciate the dark humor in the reference to drinking Ferme de Boone and Oiseau de Tonnerre - one must find a chuckle now and again even in dark times. Now back to working on my USTR comment...

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1042 Post by Victor Hong » December 27th, 2019, 8:00 pm

D@ve D y r 0 f f wrote:
December 27th, 2019, 7:41 pm

....drinking Ferme de Boone and Oiseau de Tonnerre - one must find a chuckle now and again even in dark times. Now back to working on my USTR comment...
Virginia terroir at its finest.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1043 Post by Edward H. Earles » January 7th, 2020, 10:18 am

Time for a reality check. Let's boil this down: on one side, we have Boeing, Google, Microsoft, and Facebook, and on the other side, a bunch of Eurocrats who are unelected, and answerable only to the German financial elite. The aforementioned corporations all have very strong ties to the American "deep state", and they have a combined market capitalization of 3.16 Trillion dollars. That sort of size and power buys a lot of K Street "persuasion".

Eventually some accommodation will be reached, but not because of lobbying by wine-fanciers (on either side of the Atlantic). The fine wine trade is a small drop in a very large economic/political ocean.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1044 Post by Dan Kravitz » January 7th, 2020, 6:37 pm

Mr. Earles,

Please explain to me what skin Facebook has in this game? I am also a little puzzled by the mention of Google and Microsoft in your post. I understand the interest of Boeing, but I apologize for my ignorance about the involvement of the other mentioned corporations.

I should also point out that the "German financial elite" still holds some economic power, despite being played for pathetic pigeons during the great bundled sub-prime mortgage scam.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1045 Post by Andrew Kotowski » January 7th, 2020, 6:51 pm

Dan Kravitz wrote:
January 7th, 2020, 6:37 pm
Mr. Earles,

Please explain to me what skin Facebook has in this game? I am also a little puzzled by the mention of Google and Microsoft in your post. I understand the interest of Boeing, but I apologize for my ignorance about the involvement of the other mentioned corporations.

I should also point out that the "German financial elite" still holds some economic power, despite being played for pathetic pigeons during the great bundled sub-prime mortgage scam.

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Re: US to impose 25% tariff on European wine, cheese, etc.

#1046 Post by D@vid Bu3ker » January 8th, 2020, 3:07 am

Two tariff issues in all this. The conversation bounces between them depending on the day and the thread.
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1047 Post by D@vid Bu3ker » January 8th, 2020, 4:50 am

Hearings happened yesterday...negotiations ongoing

https://www.nytimes.com/2020/01/07/busi ... Position=4
WASHINGTON — The United States and France are racing to reach a compromise in a digital tax dispute that could result in hefty American tariffs on French wine, cheese, handbags, cookware and more.

Speaking in Paris on Tuesday, Bruno Le Maire, the French finance minister, said that he had spoken on Monday with Steven Mnuchin, the Treasury secretary, about a new French tax on Facebook, Google and other American technology giants. The tax has angered the Trump administration and prompted the United States to propose a range of retaliatory levies on French goods.

Mr. Le Maire said he and Mr. Mnuchin would redouble their efforts to find a compromise before their meeting this month on the sidelines of the World Economic Forum in Davos, where they will be joined by United States trade representative, Robert Lighthizer.

“I made it clear to Steven Mnuchin that as long as we are discussing, as long as we are negotiating, there could not be any American sanctions,” Mr. Le Maire said, according to an English translation of his comments provided by the French Embassy.

Efforts to reach a resolution came as representatives from a variety of industries that could be hit by tariffs gathered in Washington to argue against the administration’s plan. Executives from industries including handbags, cookware, porcelain, champagne and cheese described the prospect of American tariffs of up to 100 percent on French imports as a threat for their businesses and begged to be exempt.

“How can you just gut my family business?” Mary Taylor, the founder of a company that brings European wines to the American market, asked a panel of government officials in a hearing room south of the Capitol. “I’ve read about farmer subsidies. Will my family be subsidized?”

“Never could I imagine my business would be threatened like this from the federal government,” Ms. Taylor added. “What do digital services have to do with European wine? Nothing.”
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1048 Post by Nola Palomar » January 8th, 2020, 2:19 pm

Wall Street Journal article out online now, print on Saturday. Lots of different perspectives, same conclusion.

https://www.wsj.com/articles/what-the-w ... mail_share
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1049 Post by Alan Rath » January 8th, 2020, 2:32 pm

Cool to see you quoted in that article, Nola!
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Re: US to impose 25% tariff on European wine, cheese, etc.

#1050 Post by Nola Palomar » January 8th, 2020, 2:51 pm

Alan Rath wrote:
January 8th, 2020, 2:32 pm
Cool to see you quoted in that article, Nola!
Wish the quote was sing accolades of success instead of anticipatory despair. I’m not finished yet. I have a few more T’s to cross and I’s to dot yet.

But my new EVOO is in route, fingers crossed...
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