Caught in the middle of a trade war, local wine and spirit shops may soon see higher prices and fewer products.
President Trump just threatened European alcohol producers with a 200% tariff - or import tax - in response to the European Union adding levies to Kentucky bourbon and Harley Davidson motorcycles.
Corner Wines and Wine Bar has been nestled in a Plano shopping center since 2006.
Just two years ago, they opened a restaurant as well. "Food and wine is a love language for us," said Michael Martin, the owner.
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WATCH HERE“We like to guide people. Listen first and see where they are. And then guide you to find something new and exciting," said Martin.
Martin aims to bring the traditions of his Italian family to North Texas. He lived through tariffs once before in 2019, in the first Trump administration, and tells 온라인카지노사이트 5 there will be some short-term troubles.
Roughly 60% of the wines at Corner Wines are made in America. 40% come from other countries says Martin.
“Domestically we should see an increase in sales but overall there will be a decline in wine sales," said Martin.
His European products may soon have a 200% import tax slapped on them from the new administration in Washington, meant to reshuffle global trade.
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SIGN UP Tariffs are an older idea. They make products made in other countries more expensive on purpose so people buy products made in America.
“Whatever they charge us, we’re charging them," said President Trump in an Oval Office press event.
According to the US Wine-Trade Alliance, 350,000 restaurants and 50,000 wine retailers may soon see higher prices.
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“It does give an opportunity for other countries and here domestically to see production go up a little bit," said Corner Wines wine director Craig Brazeal.
Brazeal tells 온라인카지노사이트 5 it's a trade-off. The tariffs may boost production and sales of Texas-made and California wines but French and Italian products will be harder to find and more expensive. He says "Old World" wines have a little more earthy flavor as opposed to sugary and sweeter American-made wines.
"Europeans have been making wines six thousand years before Christ was born, so they’re on to something. It’s just a different unique style. It’s something that people are gearing towards," said Brazeal.
It's not just wines. The international trade war launched by the Trump Administration has rattled Texas business groups for the past month. New tariffs impact cars, electronics, steel and aluminum, and farm products.
Martin and Brazeal hope the trade war is temporary and the countries come to a new agreement in the weeks ahead.
