Xinhua
12 Apr 2025, 01:45 GMT+10
Bottles of wine on display at the Vinitaly international wine and spirits exhibition in Verona, Italy, April 9, 2025. (Xinhua/Li Jing)Once a celebration of fine wine and global ambition, this year's Vinitaly fair unfolded under a cloud of concern, as Trump's sweeping tariffs cast uncertainty over the mood.VERONA, Italy, April 11 (Xinhua) -- The international wine and spirits exhibition Vinitaly, Italy's oldest and prestigious wine fair, returned to Verona this year on April 6-9 for its 57th edition.Traditionally, an event filled with the rich aroma of fine wine, the cheerful clinking of glasses, and the optimism of producers seeking to grow their presence in the global market, this year's fair was shadowed by anxiety and uncertainty due to U.S. President Donald Trump's sweeping tariffs, which includes a 20 percent levy on imports from the European Union."I'm very worried about the U.S. tariffs. It's undoubtedly very bad news," Antonio Bartolini Baldelli, a wine producer from Tuscany, a region in central Italy, told Xinhua.Trump unveiled so-called "reciprocal" tariffs last week, imposing a 10-percent baseline levy on all imports and higher rates on certain trading partners.A representative of a wine producer presents products at the Vinitaly international wine and spirits exhibition in Verona, Italy, April 9, 2025. (Xinhua/Li Jing)The tariffs have caused global stock markets to tumble and sparked widespread concerns. Despite Trump's announcement on Wednesday of a temporary 90-day pause, the 10-percent tariffs remain, and so do the industry concerns about the unpredictability and uncertainty of his policies. "If the tariff increase comes into force, Italian products may become more expensive in the U.S. market, and the final burden will fall on American consumers," said Marilisa Mazzarella, marketing manager at Nardone Winery. "We are extremely anxious."The United States has long been a major destination for Italian wine exports. According to data from the Italian trade group Federvini, Italy exported around 2 billion euros (2.18 billion U.S. dollars) worth of wine, spirits and vinegar products to the United States in 2024, accounting for nearly 25 percent of the total global exports in this category.Visitors taste wine at the Vinitaly international wine and spirits exhibition in Verona, Italy, April 9, 2025. (Xinhua/Li Jing)For small and medium-sized wineries, higher tariffs could mean rising prices and shrinking demand in the U.S. market. Lamberto Frescobaldi, president of the Italian Union of Wines, estimated that the proposed tariffs could lead to annual losses of around 323 million euros for the Italian wine sector.Carlotta Gori, manager of the Chianti Classico, said that the United States accounts for about 36 percent of her company's total exports. "We are very concerned about how this will affect our future operations," she told Xinhua.In response to the uncertainties, many producers are eyeing alternative markets. Baldelli said he had received several emails from importers and consultants "suggesting we diversify export destinations." "We are seriously considering this possibility," he noted.The Italian government has repeatedly expressed its willingness to engage in negotiations with the United States.Speaking at the opening ceremony of Vinitaly, Italian Minister for Business and Made in Italy Adolfo Urso emphasized the importance of avoiding further trade tensions. "We must do everything in our power to avoid a trade war," he said.The four-day event, which concluded on Wednesday, has attracted around 4,000 exhibitors and tens of thousands of buyers from 140 countries and regions.Visitors taste wine at the Vinitaly international wine and spirits exhibition in Verona, Italy, April 9, 2025. (Xinhua/Li Jing)
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