If the wines have not been accepted through US Customs prior to the date then the tariffs kick in.
Lockheed was very much in their sights in the beginning, because one of the original aims in forming Airbus was to create a pan-European defense aerospace company so European governments didn’t have to buy their military aircraft from Boeing or Lockheed.
Airbus is not “a multi-governmental entity.” It’s been publicly traded for a long time. But, you’re right that governments have meddled and supported it more than the US government has its American competitors, and there’s haggling with governments about where to locate plants within the EU. (The US government does provide a LOT of export financing for sales of Boeing planes abroad through the Export-Import Bank, however. As I recall, most of the Ex-Im Bank’s credit went to Boeing purchases.)
Isn’t the configuration of overhead storage a choice by the airlines in how they have the planes outfitted, like seats?
So what happens to retailers that have sold millions of dollars of bordeaux futures…
If the wines have not yet cleared customs then someone is going to pay 25% on the value of the imports.
I see some wrangling over canceling orders in our near future.
Or merchants eating costs…ugly no matter what.
Jeez, how did we ever end up in this situation?
Italians make up nearly half of our “daily drinkers”. Looks like that will continue or increase. There’s no way to completely replace French wines.
The cows milk cheese tariff will SUCK. My wife and I eat some sort of European cheese at least 5 days/week. Lots of Parmesan.
We don’t eat a lot of “preserved pork”…but I do love the little that we do.
RT
Richard, cool avatar. Inspired me to change mine, thank you.
Dennis, the broader situation for politics and culture is not improving, and it’s only getting worse. No winners to be had in any of this insanity, we’re all gonna lose, regardless of the side we find ourselves on.
The ruling that came out also said the US is subsidizing Boeing as well, but that case won’t be decided on until next year. So first is this one against the EU for Airbus, and next year the Europeans can do tit-for-tat when the WTO decides in it’s favor. But why negotiate when there is an election next year and you can stick it to the foreigners NOW?
When I saw the headline I thought it was on all agricultural products. I guess I’m safe - for now.
This is a nice avatar, super friendly. I don’t think I understood your last one, was it an album or something?
Markus-please avoid the political realm. Let’s stick to the effects.
Just a guess, but their hard-right government is a thorn in the EU’s side, and our beloved leader wants to push it in a little further since it is ‘friendly’ to him and vice-versa.
What politics? I didn’t mention anything that was not decided today by the WTO. You can look it up if you want to, but you would rather accuse me instead.
Your last sentence in post #30 was clearly political.
Is the question, Markus, to me or Richard?
So what is the practical increase on the end-cost to consumers? If a bottle is $50 on the shelf now, and holding all other variables equal (exchange rate, markup, etc.), the next vintage is subject to the tariff, what will next year’s shelf price be?
On your assumptions, the price would rise 25% to $62.50.
But basic economics will tell you that the sellers (producers, importers, distributors, retailers) will eat (as it were) part of the increase, because the increase in price will reduce demand and they’ll be better off to retain sales by absorbing some of the loss. It is almost never the case that an increase in costs or taxes is passed through 100%.
The good news is that the euro is down to $1.10 (from a high in the $1.40s in 2011) (oh, that nasty Federal Reserve driving up the dollar!), which mitigates this somewhat.
Rather, will we be seeing much more wine being labeled as such? My understanding is that there’s some leeway in ABV labeling of wine