{"id":52991,"date":"2025-08-08T15:48:15","date_gmt":"2025-08-08T15:48:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/52991\/"},"modified":"2025-08-08T15:48:15","modified_gmt":"2025-08-08T15:48:15","slug":"us-tariffs-on-eu-wine-and-spirits-could-result-in-loss-of-25000-american-jobs-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/52991\/","title":{"rendered":"US tariffs on EU wine and spirits could result in \u2018loss of 25,000 American jobs\u2019 \u2013 The Irish Times"},"content":{"rendered":"

The imposition of 15 per cent tariffs on European Union<\/a> imports of wine and spirits would result in \u201cmore than 25,000 American job losses and nearly $2 billion in lost sales\u201d, a coalition of US<\/a> trade associations has warned.<\/p>\n

In a letter addressed to Donald Trump<\/a>, the Toasts Not Tariffs coalition has urged the US president to \u201csecure fair and reciprocal tariff<\/a>-free trade for US and EU spirits and wines as soon as possible\u201d.<\/p>\n

\u201cThe damage to the US hospitality sector resulting from tariffs on wines and spirits will have lasting, negative impacts,\u201d it warned.<\/p>\n

The 57 signatories to the letter included key US trade organisations including the Distilled Spirits Council of the United States, WineAmerica and American Distilling Institute.<\/p>\n

The EU and US agreed a trade deal at the end of July but the specific tariffs applying to wine and spirits, including Irish whiskey, which accounts for up to half the State\u2019s food and drink exports to the US, were not outlined.<\/p>\n

A blanket 15 per cent tariff on EU goods, including wine and spirits, however, came into force on Friday.<\/p>\n

The Irish Whiskey Association<\/a> warned last week that some exporters here may be forced \u201cto reorientate their focus away\u201d from the US if a 15 per cent tariff rate applied. <\/p>\n

After months of threats and reversals and despite some frantic last-minute lobbying by several countries, including Switzerland and Taiwan, which have been hit hard by the new measures, Mr Trump\u2019s global tariffs took effect at 12.01am in Washington on Thursday, pushing US import duties to their highest level in a century. <\/p>\n

US commerce secretary Howard Lutnick said the levies could generate up to $50 billion (\u20ac42 billion) a month in tariff revenues. <\/p>\n

\u201cThen you\u2019re going to get the semiconductors, you\u2019re going to get pharmaceuticals, you\u2019re going to get all sorts of additional tariff money coming in,\u201d Mr Lutnick said in an interview with Fox Business Network.<\/p>\n

Mr Trump this week appeared to go back on the trade deal agreed with the EU in July by threatening to lift tariffs on pharmaceuticals, the main element of Ireland\u2019s trade with the US, up to 250 per cent within two years. <\/p>\n

On Wednesday, he also threatened to impose 100 per cent tariffs on foreign-made semiconductors, albeit with exemptions for companies that have invested in the US.<\/p>\n

\u201cWith the continuing noise from the US administration on tariffs, the hoped-for certainty signal remains elusive for EU business,\u201d Danny McCoy<\/a>, the head of employers\u2019 group Ibec<\/a> said.<\/p>\n

\u201cBusinesses can only best deal with the situation as it is day by day at the expense of longer-term planning for investment. We hope for stability and certainty soon.\u201d <\/p>\n

Market analysts, meanwhile, have been sounding alarm bells that the US economy could be drifting toward stagflation, citing weakening jobs market data and a noticeable tick up in inflation, as the impact of trade tariffs start to show up.<\/p>\n

This could potentially restrict the ability of the Federal Reserve in the US to cut interest rates, they say.<\/p>\n","protected":false},"excerpt":{"rendered":"The imposition of 15 per cent tariffs on European Union imports of wine and spirits would result in…\n","protected":false},"author":2,"featured_media":52992,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,29261,141,1294,935,29259,29260,56,54,158,55,1709],"class_list":["post-52991","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-danny-mccoy","tag-donald-trump","tag-economy","tag-european-union","tag-ibec","tag-irish-whiskey-association","tag-uk","tag-united-kingdom","tag-united-states","tag-unitedkingdom","tag-us-tariffs"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/52991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=52991"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/52991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/52992"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=52991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=52991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=52991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}