The United States remains the leading consumer of wine globally, with a remarkable annual consumption of 33.3 million hectolitres. France ranks second with 24.4 million hectolitres, while Italy comes in third at 21.8 million hectolitres. This trend underscores the enduring cultural and economic significance of wine in both traditional and emerging markets.
Here are the top 10 wine-consuming countries (measured in million hectolitres):
- USA – 33.3
- France – 24.4
- Italy – 21.8
- Germany – 19.1
- UK – 12.8
- Spain – 9.8
- Russia – 8.6
- Argentina – 7.8
- China – 6.8
- Portugal – 5.5
Trump’s reciprocal tariffs may disrupt the wine trade
In a broad set of trade policies, the U.S. has introduced average tariffs of 20% on various goods imported from the European Union, including machinery, vehicles, and wine. This move poses a significant threat to the global wine trade.
As the U.S. leads in wine consumption and imports substantial amounts from Europe, the 20% tariff is likely to increase prices for consumers. Analysts anticipate a shift towards domestic brands and wines from New World regions, such as Chile and Australia, as French, Italian, and Spanish wines become less accessible.
Moreover, countries like France, Italy, Spain, and Portugal—key players in both wine consumption and production—could experience considerable export declines. For Portugal, which consumes 5.5 million hectolitres and heavily depends on exports, this situation could destabilize parts of its economy.
Read more: EU Commission proposes 25% counter-tariffs on some US imports, document shows
On the other hand, American wine producers may benefit in the short term from decreased competition. However, retaliatory tariffs from the EU could negatively impact U.S. wine exports, particularly to major markets like Germany and the UK.
