Trade Deal Toast: Spirits Exports Get a Duty-Free Lift
The French wine and spirits exporters' federation, FEVS, announced that a trade agreement between the EU and the US will likely confirm duty-free trade for spirits. However, wine duties remain unresolved, prompting FEVS to urge the European Commission and France to negotiate a reduction in customs duties.
- Country:
- France
The French wine and spirits industry is edging closer to a significant trade advancement as the Federation of Exporters of Wines and Spirits (FEVS) revealed a promising development in EU-US talks. They announced that spirits are expected to enjoy duty-free status under the new trade agreement.
Despite this positive outcome for spirits, the situation remains uncertain for French wine. While disaster has been averted, the FEVS expressed the urgency of the coming days. They emphasize the need for decisive actions from the European Commission and France to negotiate reduced customs duties on wine.
FEVS reiterated the importance of these ongoing discussions, noting that achieving a favorable update to existing trade terms is vital for the sector's future stability and growth.
(With inputs from agencies.)
ALSO READ
The United States and the European Union announce a trade framework, reports AP.
EU-US Trade Deal: Spirits Duty-Free, Wine Duties Under Negotiation
Italy's Wine Exports at Risk Amid New U.S. Tariffs
Tensions Rise Ahead of Uganda's Presidential Elections: Bobi Wine Speaks Out
Deadly Attack at NFL's Doorstep: Trauma and Tragedy Intertwined
Google News