U.S. importers are taking strategic measures to guard against potential tariffs on European Union goods, as former President Donald Trump announced his intention to impose tariffs "pretty soon." The details remain unspecified, yet the looming threat has sparked a significant response among American wine importers, particularly concerning Italian Prosecco. Prosecco, which emerged as the top-selling Italian wine in the United States last year, accounting for nearly 40% of all sales, has seen a marked increase in shipments.
In November following Trump's election, U.S. imports of Italian sparkling wine, predominantly Prosecco, surged by an impressive 41%. Despite not facing tariffs during Trump's previous presidency, importers are now stockpiling Prosecco to hedge against prospective EU tariffs. This proactive approach reflects the heightened risk exposure of Italy's wine sector, which exports nearly a quarter of its production to the U.S., contributing 1.9 billion euros ($1.97 billion) in exports last year.
Shipments of Prosecco to the U.S. rose by 17% in the first ten months of 2024, a figure that far exceeds the 0.6% increase in U.S. consumption for the same period. The Wine & Spirits Wholesalers of America confirmed this trend, with Chairwoman Dina Opici highlighting the elevated deliveries of Prosecco. A threatened port strike in January may have also led to increased shipments, as importers rushed to secure their inventories.
"It is an important figure that we did not expect," said Giancarlo Guidolin.
"We think there was an increase of product in the warehouse," Guidolin added.
The Union of Italian Wines trade association corroborated the rise in imports, attributing it to the anticipation of trade challenges. Lamberto Frescobaldi, president of the trade association, noted that uncertainty over tariffs prompted wine importers to bolster their pipelines in preparation for future sales. This move ensures a steady supply amid potential disruptions.
