This retailer ordered 35,000 cases of French wine to brace for possible tariffs

Bottles of French wine are displayed for sale in a liquor store on December 3, 2019 in Arlington, Virginia. Though it’s not clear yet whether massive tariffs against French wine will take effect next month, Moore Brothers Wine Co. isn’t taking any chances. “It’s just really terrible,” said David Moore, a co-owner of the sprawling business. “But what we hope to do is make sure that we aren’t doubling prices overnight.” Though the U.S. and China have worked out a “phase one” deal of their respecti


Bottles of French wine are displayed for sale in a liquor store on December 3, 2019 in Arlington, Virginia.
Though it’s not clear yet whether massive tariffs against French wine will take effect next month, Moore Brothers Wine Co. isn’t taking any chances.
“It’s just really terrible,” said David Moore, a co-owner of the sprawling business.
“But what we hope to do is make sure that we aren’t doubling prices overnight.”
Though the U.S. and China have worked out a “phase one” deal of their respecti
This retailer ordered 35,000 cases of French wine to brace for possible tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: jeff cox
Keywords: news, cnbc, companies, york, world, tariffs, 35000, wine, battle, cases, moore, trade, 100, worked, retailer, possible, brace, french, ordered


This retailer ordered 35,000 cases of French wine to brace for possible tariffs

Bottles of French wine are displayed for sale in a liquor store on December 3, 2019 in Arlington, Virginia.

Though it’s not clear yet whether massive tariffs against French wine will take effect next month, Moore Brothers Wine Co. isn’t taking any chances.

The retailer, which operates in New York, New Jersey and Delaware, ordered more than 35,000 cases of imported wine to be delivered by Feb. 1, just in case the White House follows through on its threat for tariffs that could be around 100% and levied on a host of other goods.

“It’s just really terrible,” said David Moore, a co-owner of the sprawling business. “But what we hope to do is make sure that we aren’t doubling prices overnight.”

Wine imports from the European Union already face 25% duties, but the Office of the U.S. Trade Representative has floated the idea of hiking them to 100% as part of an ongoing battle over tariffs on Airbus airliners. The USTR did not respond to a request for comment.

Though the U.S. and China have worked out a “phase one” deal of their respective tariff battle, the wine issue is just one of many unresolved trade issues around the world.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: jeff cox
Keywords: news, cnbc, companies, york, world, tariffs, 35000, wine, battle, cases, moore, trade, 100, worked, retailer, possible, brace, french, ordered


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