A Toast to Foresight of U.S. Importers
U.S. importers have built up a stockpile of French wine and spirits in case Washington retaliates against the European Community in a farm trade dispute.
The French wine and spirits export federation FEVS said U.S. importers snapped up enough wine and spirits in the first half of the year to cover almost a whole year’s consumption.
The buying binge was prompted by a U.S. threat to slap duties on $1 billion worth of EC goods. The threat was aimed at forcing the European Community to comply with a world trade ruling against its oil seed subsidies.
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