AUSTRALIA

U.S.-Europe Trade War Elates Vintners: Australian wine exporters raised their glasses to the first salvo in a potential all-out trade war between the United States and Europe. Exporters may be able to expand their fast-growing American market if the United States goes ahead with its threat to slap 200% tariffs on European Community wines beginning Dec. 5. “Obviously, it’s to our advantage to have this trade war,” said Priscilla Felton of the Australian Wine Importers’ Assn. in Los Angeles. The punitive tariffs could be canceled if differences between the United States and the European Community are resolved by next month, however.