European Wine Industry at Stake in U.S.-EU Trade Talk

The European wine industry could be facing a significant hurdle as wine may not receive preferential treatment in the ongoing U.S.-EU trade agreements. This worry comes from the industry's main lobby group, which expressed doubts on Friday.

The group represents major wine producers from nations like France, Italy, and Spain, who heavily rely on the U.S. market for a substantial portion of their exports. The exclusion of wine from sensitive goods in deal packages raises potential risks for their exports, valued at almost 5 billion euros annually.

Recent reports indicated that while concessions were being made on tariffs for various products such as aircraft and medical equipment, it remains uncertain if wine would be included. Industry officials are advocating for a 'zero for zero' tariff strategy to enhance the alcohol trade corridor between Europe and America.

(With inputs from agencies.)