US taxes: French alcohol fears a EUR 800 million drop in exports

France's fourth export market in 2024, the United States imposed 20% customs taxes on the European Union on Wednesday, April 2.

The US President has just signed a decree announcing 20% customs taxes for the European Union. Several sectors of the French market are likely to be affected by this measure, including that of aeronautics, luxury and spirits.

The French wine and spirits sector fears a decline of around €800 million in exports for Hexagon companies.

Aerospace, luxury, pharmacy, wines and spirits are the most exportable sectors to the United States. Not all are threatened in the same way by the trade war launched by Donald Trump

The French wine sector will be the hardest hit.

European exports of wines and spirits to the United States could fall by €1.6 billion a year, with a "massive impact on the employment and economy of the sector", warned on Thursday the bosses of the sector. France would take half of that blow, with a fall in its sales to the United States of €800 million a year, the Federation of Wine Exporters and Spirits of France (FEVS) said in a statement. The tariffs announced last night by President Donal…