Hahaha dumb shits.
After U.S. President Donald Trump announced a series of tariffs targeting Canadian goods earlier this year, Canada was quick to respond with retaliatory measures aimed at American sectors that rely on exports north of the border, one of which was the wine industry.
www.ctvnews.ca
After U.S. President Donald Trump announced a series of tariffs targeting Canadian goods earlier this year, Canada was quick to respond with retaliatory measures aimed at American sectors that rely on exports north of the border, one of which was the wine industry.
The result was a 93 per cent drop in American wine exports to Canada in April, the biggest year-over-year decline in decades. Since Canada is the largest buyer of exported U.S. wines, the ongoing trade dispute has plunged the industry into crisis, according to one expert.
“Wine firms here in the U.S. thought that a tariff on (imported) goods, including wine from Canada, would be a boon, but it has turned out the other way around,” Karl Storchmann, executive director of the American Association of Wine Economists, told BNN Bloomberg in a Wednesday interview.
“Canada pulled the plug and the exports of U.S. wine to Canada are virtually down to zero or they’re closing in on zero… and exports to Canada account for more than a third of all U.S. exports by value, and that is massive.”
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Storchmann said Canadian purchasers of U.S. wine tend to buy premium products from high-end producers in California – and lots of it.
“Canada is a very, very important market for upscale wine and it’s in enormous quantities. The premium wine markets are Canada and China,” he said.
American wine exports to China, the third largest purchaser of U.S. wine, also took a hit in April, as Beijing and Washington were in the midst of a trade war of their own. China bought 30.5 per cent less American wine in April than it did in the same month in 2024.
www.cbsnews.com
