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Canada News.Net
9 hours ago
- Business
- Canada News.Net
French wine and dairy face major blow from U.S. trade move
PARIS, France: French cheese and wine exporters are voicing alarm over a proposed 30 percent U.S. tariff on European Union goods, warning that the move could severely impact the country's agricultural exports and cost tens of millions of euros in annual sales. The tariff, threatened by U.S. President Donald Trump, would target key exports like dairy products and wine, two pillars of France's food industry. "A 30 percent duty would be disastrous for France's food industry," said Jean-François Loiseau, president of food lobby group ANIA. "It's a real shock for milk and cheese producers—this is an important market for us," said Francois Xavier Huard, CEO of the dairy association FNIL. The U.S. is a significant destination for French cheeses such as Brie, as well as fresh dairy products like yogurt and butter. Huard added that the industry may be forced to "rethink its strategy relating to the markets in which it operates" as changing trade rules and tariffs become the new normal. "I don't think this is temporary," he told Reuters. France exports nearly half of its dairy production, with the U.S. accounting for roughly 350 million euros (US$409 million) annually. Tariffs could push up product prices, making them less attractive to American consumers who are already feeling the effects of inflation. "Products like wine, especially, are consumed for pleasure—if you have less money to spend, you might forgo the purchase," said Yannick Fialip, head of CNPA, which promotes French food exports. Fialip also warned that a weaker dollar has already made French goods less competitive in the U.S. market. The European Commission said it prefers a negotiated trade solution, so it extended its suspension of countermeasures to U.S. tariffs until early August.
South China Morning Post
2 days ago
- Business
- South China Morning Post
French wine and cheese makers say Trump's 30% tariffs would hit agriculture industry hard
French cheese and wine producers have warned of the damaging impact that US President Donald Trump's threatened 30 per cent tariffs on imports from the EU would have on the country's agriculture industry. A 30 per cent duty would be 'disastrous' for France's food industry, said Jean-François Loiseau, president of food lobby group ANIA, while François Xavier Huard, CEO of dairy association FNIL, said: 'It's a real shock for milk and cheese producers – this is an important market for us'. 'It's a new environment we will have to get used to – I don't think this is temporary,' Huard said on Sunday, referring to shifting rules and flaring trade tensions. He noted the industry may have to rethink its strategy relating to the markets in which it operates. France's dairy sector exports nearly half of its production, including to the United States, which imports mostly cheeses such as Brie but also fresh products like yogurt and butter. It risks losing annual sales worth tens of millions of euros, said Huard, noting the sector sells €350 million (US$409 million) worth of dairy products to the US annually.
