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13 April 2025
In March 2025, U.S. President Donald Trump threatened to impose 200% tariffs on all European wines and spirits, sending shockwaves through the global market. On April 2, 2025—dubbed “Liberation Day”—the confirmed tariffs were ultimately set at 15% on European wines, prompting American buyers to withdraw en masse from the secondary market.
This trade shock weakened an already-strained fine wine market, while opening up an opportunity for European buyers, whose volumes rose by 48% according to the British exchange Liv-ex.
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