American importers have been stockpiling Italian bubbly Prosecco as a hedge against the possible impact of tariffs threatened by President Donald Trump, wine industry data show.
U.S. imports of Italian sparkling wine — 90% of that Prosecco — skyrocketed by 41% in November, after Trump’s election, far exceeding consumer demand as importers filled the pipeline for future sales, according to the Union of Italian Wines trade association.
“It was quite natural at the end of the year to do extra shipments,” said the trade association president, Lamberto Frescobaldi, given the uncertainty over whether tariffs would hit Italian wines or not — and the likelihood consumers would cut back on such luxuries if tariffs made them too pricey.
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