Trump's Tariffs Making South African Wine Costlier in U.S. That Was the Idea.
There's speculation the U.S. Supreme Court may announce its decision today (Friday, 2/20) in the cases involving President Trump's tariffs. Regardless of how the court rules, they are working as Trump intended: Driving up the price of South African wine by about 17%, reducing
There's speculation the U.S. Supreme Court may announce its decision today (Friday, 2/20) in the cases involving President Trump's tariffs. Regardless of how the court rules, they are working as Trump intended: Driving up the price of South African wine by about 17%, reducing its competiveness in the U.S. market.
South African suppliers may not be very concerned however, even if U.S. importers are. President Trump imposed a 30% tariff on agricultural products from South Africa. That drove the price of South African wine upward by 8.5%, thereby driving sales in the U.S. down 8.5%. The Americas, including the U.S., represented just 4% of South Africa's agricultural exports during the period, according to Business Insider Africa.
