I have been buying normally but have the luxury of leaving them in Europe and hoping that the tariffs will end soon. But I am told that American buyers are waiting and certainly private purchases are way down, corporate also lower. So curious if you have been holding off as well? And if so, will you buy heavily to make up for lost time?
I am not buying anything more out of Europe at least until 1/20 because I am concerned that Trump will add a 100% tariff as one of his parting shots (not that I buy that much out of Europe anyway).
Whether I buy wine in US stores will depend on pricing and how long I expect the wines to be available. I likely would buy 2019 German wines because they seem somewhat limited in availability.
My assumption in all this is that tariffs on wine will eventually be removed by the Biden administration but that it won’t be immediate. The tariffs are the result of a lawsuit advocated by the Obama administration. My guess is that they will not be removed until there is a more comprehensive deal worked out between the US and the EU. My guess is that this will happen in 2021, but when, I don’t know.
The dispute was initiated under Bush II.
And yes, a deal is needed.
Regarding any additional tariffs, the Federal Register clock now extends into Biden’s term, so it’s highly unlikely there will be additional tariffs under the current administration, unless through an executive order by T****, which can be reversed at the stroke of a pen.
There some few wines that I have sitting in Europe and not bringing back (and even a few in Asia!), but for me it’s more about not buying wines that have come into the US at post-tariff pricing. In particular, this is means I’m not really buying 2018 Burgundy, but since it’s a vintage I really don’t like, that’s an easy choice. If the tariffs are still in place, 2019 will be a much more difficult choice.
I certainly didn’t buy as much this year–but that is mostly a consequence of my cellar overflowing than tariffs. I think tariffs probably made me less impulsive too though, as I just didn’t see as many screaming deals.
This year’s buying ($) will be down approx 40%, somewhat consciously due to the tariffs. There’ll likely be some rebound next year pending EU tariff relief. Not currently planning on any splurges or making up for lost buying opportunities.
RT
I am definitely not holding off buying…but if places I am buying from are, then I guess by proxy I am.
Earlier this year I bought a modest number of 2019 Bordeaux futures but have the option to cancel if tariffs remain in place. I will decide on a case by case basis when they come in.
Other than that, I’ve bought no tariff-affected wines and don’t plan to start. Though 2019 Prums may force my hand.