A top Spanish winemaker is hedging against anticipated tariffs by US President Donald Trump on European Union products by sending extra stock to the United States that would allow them to stagger any price increases.
Luisa de Paz, export manager for the Protos winery in the Ribera del Duero region, said the company has sent enough stock to the US to cover up to six months should the US apply a tariff to EU wine exports that the sector has been advised could be as much as 10%.
"We began preparing ourselves at the end of the year after he was elected," De Paz said in reference to Trump. "We expedited orders so that they would have enough for the first six months. They have a security stock."
Data shows Protos' competitors are also moving to protect themselves from potential tariffs while US companies are expediting imports of everything from autoparts to Italian parmesan cheese and French cognac to prepare for the possibility of new tariffs as Trump threatens to lead previous global allies into a full-blown trade war.
Increase In Exports
Wine exports from Spain to the US rose by 20% in December, an increase the Spanish Wine Federation attributes in part to stockpiling by importers ahead of possible tariffs.
Sending additional stock would allow importers to stagger price increases in the coming months should tariffs be introduced, De Paz said.
The US is the second-largest export market for Spanish wines after Germany, according to the Spanish Wine Observatory. Protos exports around 250,000 bottles a year to the US, its second biggest export market after Mexico.
In 2019, during Trump's first term, the US imposed tariffs of 25% on certain wines and other spirits from four European countries, though they did not directly impact Spain.
Spain could lose out to competitors such as Argentina, which might in any potential trade war benefit from President Javier Milei's close relationship with Trump, said Miguel Sanz, director of the certifying authority for the Ribera del Duero region's wines.
