Good news for French winemakers on 6th March 2021.
After a telephone call between the new US president Joe Biden and the president of the European Commission, there would be a temporary suspension (of 4 months) of the 25% import tax that the Americans had to pay on wines containing more than 14% alcohol. Moreover, this temporary suspension would become definitive if Europe and the US agreed on a final trade. This means good news for Bordeaux, which thinks it has suffered a loss of turnover of approximately 100 million as a result of the tax. For all French wine regions together, the loss is estimated at 400 million. This decision has given a new boost to international sales and exports to America are currently catching up strongly. Only for us Europeans this may mean a price increase in the future for the French had lowered their prices somewhat to temper the influence of this tax. All the more reason why to quickly order some primeurs 2019, which had come out at very low prices, and will therefore probably increase in value quickly in the future.