Adam Williams, a 58-year-old owner of Ansley Wine Merchants in Atlanta, Georgia, is bracing for the impact of a potential 20% tariff on European wines, which make up more than 80% of his store’s 1,500-label inventory.
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00:00Adam Williams, 58-year-old owner of Ansley Wine Merchants in Atlanta, is bracing for the impact of a potential 20% tariff on European wines, which make up more than 80% of his store's 1,500 label inventory.
00:17It's definitely going to impact the customer. It's a sales tax, basically. It's a 20% sales tax on top of what they're already paying. For the types of wines that I sell, which aren't super expensive, they're everyday, unique, small production wines, that's pretty huge. Five or so dollars a bottle for a $20 or $25 bottle of wine is really, really big.
00:44Most of Williams' wines come from small, family-owned vineyards in France and Italy. With importers already pausing shipments in anticipation of retaliatory tariffs from the European Union, Williams is relying on existing stock. He said he can't afford to buy in bulk to prepare for the price increase.
01:02It's already affected us in that importers are not shipping wine from Europe at the moment because they're waiting to see what's going to happen, waiting to see if the European Union is going to reciprocate with tariffs.
01:16So we actually have a hold on wine shipments coming in. So that's affecting us.
01:21The U.S. imports more wine from the European Union than any other part of the world, led by France and Italy. Sales of French wine and spirits could drop by at least 20% when the tariffs go into place.
01:34The National Association of Wine Retailers said it expected significant revenue reductions, layoffs, and business closings.
01:51The National Association of�
02:07The National Association of the European Union