"French Winemakers Have Too Much Inventory, So They’re Cutting Prices..."

From The Robb Report, March 3:

Many of France's prestigious makers are having difficulty selling their bottles in light of the new policy.

When the Trump Administration moved to push through new tariffs on European goods late last year, one of the categories hit hardest was French wine,  which saw its products levied with a 25 percent tax. The resulting price hike has made many bottles simply too expensive for US sellers to import. Now, with an abundance of wine bottles in reserve, French vintners are reportedly slashing prices to stay afloat.

Vineyard-owner Olivier Fleury recently told the London Times that he has 70,000 bottles of different varieties that would normally be on their way for customers in the US. That figure, he told the paper, accounts for a full 20 percent of his market. And Fleury’s case doesn’t appear to be exceptional. Wine industry groups located in France’s famous Bordeaux region have reported a staggering 46 percent fall in sales since the new tariffs were implemented....

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