WINE SECTOR: HARVESTING PERIOD FOR VINES, PLANTING AUTHORISATIONS & EU TARIFFS
During the months of September and October, the world of wine has been characterized by harvests. According to the annual OIV estimates, after the exceptionally high production of 2018, for the second consecutive year, the 2020 world wine production volume is expected to be below average. At the institutional level, the Parliament and the Agriculture Council have adopted their negotiating position on the reform of the CAP. Regarding wine and planting authorizations, both Parliament and the Council have approved an extension of planting authorizations until 2050 and 2040 respectively. In the Boeing-Airbus dispute, the WTO, after having authorized the United States to impose punitive tariffs of $ 7.5 billion on exports from the European Union a year ago, has now authorized the EU to impose tariffs of $ 4 billion dollars on US goods. The EU wine sector has been the collateral victim of that dispute, facing a hefty 25% additional duty in exports to the US and the wine sector is concerned about a possible tariff escalation.
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