DUTIES: FRANCO MORANDO (MONTALBERA), 'GOOD TO WAIVE EU COUNTER-TARIFFS, NOW SUPPORT FOR SUPPLY CHAINS'

The European Union is renouncing—at least temporarily—a series of tariffs on American products. In short, Brussels will not pursue countermeasures to US duties for now. I believe this decision is wise and commendable, but now that Trump's measures will become effective, it's important to provide strong support to supply chains that cannot afford to lose competitiveness. With a 15% tariff, the impact will likely be a loss of €350 million. The 15% tariff on beverages and wine will certainly be maintained, and this, I repeat, will particularly affect "popular wines," the range sold to importers between €3 and €10. But if here in Italy we are already starting to feel strong repercussions simply with the partial blocking or limitations of orders to the US, overseas importers themselves are also starting to very aggressively cut their beverage wine sales forces, as American consumers, both retail buyers and end consumers, will be hit by strong purchase inflation and will certainly turn to non-European wines. Therefore, it is necessary to intervene immediately with measures to support the supply chains." This was stated by Franco Morando, general manager of Montalbera , a historic Piedmontese winery that extends between the Monferrato and Langa regions and is among the most prestigious producers of the native Ruchè wine, much loved by Americans, commenting on the EU's decision to temporarily suspend counter-duties.