Italy’s agriculture minister has downplayed concerns about potential US tariffs on wine, expressing hope for a diplomatic solution.
It comes amid escalating trade tensions between the US and Europe, with US President Donald Trump threatening a 200 per cent tariff on European wine and spirits.
While acknowledging the threat posed by the proposed tariffs, Francesco Lollobrigida said: "We fear any further burden that will create more difficult conditions (for wine exports), but we aren't terrified."
He added that he hoped "diplomacy will prevail in negotiations with such a strategic ally like the United States, over a fundamental market for Italy, indispensable and not replaceable".
A key decision on tariffs is anticipated from the White House on April 2.
Adding to the unease, Italian trade group Federvini reported a slowdown in wine and spirits exports to the US due to the looming tariff threat.
The uncertainty surrounding potential duties is creating a challenging environment for Italian winemakers, who rely heavily on the American market.
Trump's threat to target European wines and other alcohol imports is a response to a European Union plan to impose tariffs on American whiskey and other products next month.
That, in turn, is a reaction to Trump's 25 per cent tariffs on steel and aluminium imports that took effect earlier this month.
Italy's wine exports in 2024 grew 5 per cent year-on-year to over €8 billion ($8.63 billion), of which just under a quarter were directed to the United States, according to data from national statistics agency ISTAT.
The industry, including the wider supply chain, accounts for just over 1 per cent of Italy's gross domestic product, data by Italy's wine producers association Uiv showed.
"Nobody can still say anything clear about the impact tariffs will have on the national wine industry as nothing is still defined or final," said Matteo Zoppas, head of the country's trade agency ICE.
Lollobrigida and Zoppas were speaking at a conference presenting this year's Vinitaly.
Some 4,000 wine companies and 3,000 buyers from 140 different countries are expected to attend the event, one of the world's largest wine fairs. It is taking place in the northern city of Verona on April 6-9.
"The U.S. delegation has confirmed its presence," said Federico Bricolo, the president of Veronafiere, the exhibition centre hosting the fair.
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