President Trump has threatened a hefty tariff on European wine, champagne and spirits if the European Union goes forward with a planned 50% tariff on American whiskey. NBC 5’s Regina Waldroup talks to the owner of a wine shop about what it could mean for his business.
President Donald Trump's threat to impose a 200% tariff on European wine and spirits could impact some Chicago small businesses.
Anfora Wine Merchants is approaching five years in Oak Park, but its owner said adding tariffs could be devastating to this business that sells European wines, mostly from Italy.
"If the president's threat actually goes through, it will probably put us out of business," said owner Adrian Weisell.
On Thursday, President Trump in a post on Truth Social wrote: "The European Union has just put a nasty 50 percent tariff on whisky. If it's not removed immediately, the US will shortly place a 200 percent tariff on all wines, champagnes and alcohol products coming out of France and other EU countries."
The Trump administration claims the tariffs will eventually have a positive effect on the economy, but Weisell disagrees.
"All the small independent importers would not be able to weather this. And all the small independent retailers and small restaurants would not be able to weather it. So you'd just be left with big conglomerates, big companies limiting choices and charging a lot more," Weisell said. "We've all been through a pandemic to inflation. It's just another thing that will just hurt small businesses."
The United States is the largest importer of wine in champagne. Last year, the U.S. imported $6.79 billion worth of wine from 73 different countries, according to Vintur.
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Weisell is hoping the tariff threats are not a done deal.
"I'm hoping it's just theater. And the threat is being used more to get something. Maybe he wants to look like he's cut some sort of deal and it won't happen, but I don't know what's going on."
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