ROME — American importers have begun accumulating supplies of the Italian sparkling wine Prosecco as a precautionary measure amid potential tariffs that could be imposed by President Donald Trump, as indicated by recent data in the wine industry.
U.S. imports of Italian sparkling wines, with Prosecco making up 90% of that figure, surged by 41% in November following Trump’s election. This increase has significantly outpaced consumer demand, as importers were keen to stock their inventory in anticipation of future sales, according to the Union of Italian Wines trade association.
Lamberto Frescobaldi, the president of the trade association, highlighted that it was quite reasonable to arrange for additional shipments at the end of the year, especially given the uncertainty surrounding possible tariffs on Italian wines, and the likelihood that consumers would reduce their spending on luxury items if prices were driven up by additional tariffs.
“Can we survive without a glass of wine? Yes. Wine is a pleasure,” Frescobaldi remarked during a recent interview, reflecting the sentiment within the industry.
Despite the absence of tariffs on Italian wines during Trump’s previous term and no new tariffs having been announced for European goods, Prosecco importers and distributors are taking proactive steps to safeguard the market.
Approximately 25% of Italy’s wine is exported to the United States, making the sector particularly vulnerable to potential tariffs compared to other Italian exports, according to the trade federation. In the previous year, Italy’s wine exports to the U.S. were valued at 1.9 billion euros ($1.97 billion).
Prosecco emerged as the best-selling Italian wine in the United States last year, accounting for nearly 40% of total wine sales.
Signs of market apprehension became evident even before Trump’s election, with Prosecco shipments to the United States rising by 17% in the first ten months of 2024. This stands in stark contrast to modest single-digit growth seen in the next largest markets, Britain and Germany, and far outstrips the U.S. consumption growth rate of just 0.6% during the same period.
“It is an important figure that we did not expect,” said Giancarlo Guidolin, president of the Prosecco DOC consortium, which is the largest among Italy’s three Prosecco-producing consortia. “We think there has been an increase of product in the warehouse.”
Additionally, a possible port strike anticipated for January may have also contributed to the uptick in deliveries, according to Dina Opici, chairwoman of the Wine & Spirits Wholesalers of America.
“That said, considering the possibility of impending tariffs, I believe it provided a greater sense of security for making that investment,” Opici commented.