Alexander Michas, Vintus president and COO, joins CNBC’s ‘Squawk on the Street’ to discuss how the wine business may be impacted by President Trump’s proposed 200% tariffs on imported alcohol, whether they would be able to front-load inventory, and more.
32 Comments
French 🍷 a little raisiny
This is what you get when you have an elected Doritos that has no idea what he is doing 🤣🤣🤣🤣
Creating a level playing field to produce domestically means that you no longer buy raw materials internationally for the best price/quality ratio, but buy raw materials domestically and produce them domestically for the price that they cost domestically. This will usually be more expensive or of lower quality than buying on the competitive world trade, otherwise you would not have had to buy or produce the raw materials and goods abroad. More expensive or inferior raw materials result in more expensive goods or goods of lower quality. More expensive goods have to be paid for. For export, these goods are no longer competitive in terms of price or quality. For the internal market, these goods are also not attractive because they are too expensive or of lower quality. To be able to buy the more expensive goods, you need higher incomes. Higher incomes make production costs higher, etc. etc. So closing off world trade is almost always negative for citizens.
Our economy is being ripped off all right…by Trump.
No problem, switch to 100% home-grown cannabis. Alcohol is poison anyway.
Cry me a river 😂😂 FAFO
donny the toddler
Under Trump, the U.S. is caving to Russia, a murderous autocracy. The pre-orchestrated ambush of a democratically elected leader in Ukraine was a low point in American history. Typical head-up-your-ass thinking from a leader who’s decided to alienate allies, raise costs for American consumers, and reduce demand for our products overseas. The definition of stupid is harming yourself while harming others. These policies are … stupid.
This will be great for American wine ,Beer. Buy American. CNBC is anti-American.
Trump can’t levy tariffs without declaring an economic emergency first and congress can … checks notes … revoke that emergency status at any time. The cowards in the GOP are enabling this mess and are truly accountable for it.
Don't worry, Trump voters.I'm sure that the guy that filed bankruptcy six times and wants to put us in a recession knows exactly what he's doing
Americans are going to have to learn the difference between sparkling wine and champagne.
So my $15 bottle of Italian wine will cost $45. How does this solve the egg 🥚 prices for his MAGA Cult? ABSOLUTELY RIDICULOUS
WIne markup is a joke anyways, 100s dollar for a bottle is laughable
Come to the great white North we will have in abundance. We promise not to rip you off haha
The part Trump and his trailer park voters don't realize is this will not increase demand for US products, because US producers are going to raise their prices to be just below what we were getting from other countries. If China sells a widget for $10, and the US producer can only make it at $12… if we put tariffs on China that raise their prices to $20, then american companies are not just going to keep their prices at $12, they are going to raise them to $19. So now instead of paying $10 or sometimes $12 for the widget, you are paying $19. And at that $19 price point, the US manufacturer is going to be more profitable, but demand will decrease, so no jobs will be created from their sudden windfall. Consumers are not going to buy as many widgets overall if the price goes from $10/$12 to $19/$20.
Trump is intentionally creating a recession.
Watch crime rise as alcohol begins to be smuggled in.
The USA needs to realise that it’s a small market for European wines, about 5% of total production, American bourbon sells over 25% of its production to the EU, it isn’t hard to work out which country’s industry is going to suffer.
Trump bankrupting this guy😢
What do you expect when Biff Tannen and his court jester Musk run US economy
Costco box 🍷🎉
With wine prices scheduled to increase due to Trumps tariffs, are there any great home brewing recipes out there, for a fraction of the cost? Please respond.
I don’t drink
You mean the convicted FELON, 6 times bankrupt business man is a freaking IDIOT??!! This was what clowns 🤡🤡voted for.
Next….ban overseas travel. Make Americans spend domestically…..make tons of money😂
Good job trump
He is not going to make america great again but he is definitely going to make Europe stronger and more unified together with our canadian friends and all other countries who take clear stand against the bullying and arrogance from over there.
The tectonic plates are shifting and while we united to defend a rulebased world order with mutual respect and gains, America can keep implode in internal conflicts , die from obesity, crime, fentanyl or poverty while gaslighting their constituents that they are on the way on a new golden era even though they get poorer and poorer, more and more uneducated and irrelevant.
American restaurants will bear the brunt of this. Wine is already expensive enough at a restaurant. Don't see people paying significantly more for wine, and US wine, as mentioned by the guest, is not a direct substitute.
How about buy wine and liquor from the USA .
Young people do not care about wine
Be like Trump don’t drink alcohol.