Vineyards in Italy’s Chianti region, where producers are beginning to feel the impact of higher US tariffs on European wine exports.
Photographer: Martina Albertazzi/Bloomberg
The Big Take
A Bottle of Wine Shows the Slow-Motion Impact of Trump’s Tariffs
Prices are rising despite efforts by vintners, importers and distributors to keep them in check.
To understand why President Donald Trump’s year-old trade war hasn’t caused inflation to soar, consider a bottle of European wine.
The US slapped a 10% tariff on wines imported from the EU in April last year before hiking it to 15% in August. Since then, prices have risen gradually, at different speeds for different origins, grapes and labels.