French wine and spirits producers are facing a 15% tariff on exports to the U.S., impacting a crucial market. Despite EU-U.S. trade deal negotiations, wines and spirits won’t be exempt from the baseline rate. This could cut French sales revenues by 1 billion euros annually, threatening jobs in both countries.

The U.S. is a significant market for champagne, with 10% of exports by volume and 15% by value. The new import levies will raise prices for U.S. consumers, potentially affecting jobs in France and the U.S. Producers fear the tariffs will hurt the industry, already dealing with a weak dollar.

Champagne prices for U.S. consumers may rise by $20 per bottle due to tariffs, pushing it to around $70. Despite the challenges, producers like Frederic Zeimett are exploring ways to maintain business in the U.S. market. Zeimett is committed to preserving the leading position of champagne exports, even if it means adjusting prices.

Read more at Yahoo Finance: French winemakers fear Trump tariffs will hit sales in crucial US market