Federvini Welcomes EU Trade Deal

Federvini on Wednesday welcomed a provisional agreement between the European Parliament and the Council of the European Union on regulations meant to carry out commitments in the trade understanding reached between the European Union and the United States in Turnberry, Scotland, in July 2025, calling it an encouraging sign that keeps transatlantic talks open at a difficult moment for exporters.

The federation, led by Giacomo Ponti, said the deal could help restore confidence and continuity in trade across the Atlantic after days of renewed tension over tariffs. President Trump had recently threatened to raise duties above 15% if the European Union did not meet its obligations by July 4. That warning came just hours after the U.S. Court of International Trade struck down the so-called universal 10% tariffs and after the Supreme Court in February halted tariffs of 15% based on the International Emergency Economic Powers Act.

Ponti said the agreement gives companies more clarity at a time when international trade remains unsettled. He said that even if the framework is still being finalized, it includes safeguards intended to protect Europe’s food and beverage sector and offers businesses the predictability they need to operate.

For wine, spirits and vinegar producers, he said, reducing trade uncertainty is essential to keeping dialogue alive between the two sides of the Atlantic. The issue matters especially for Italian wine, which has the United States as its largest foreign market. Italian wine exports to the U.S. were worth 1.75 billion euros, according to Istat data analyzed by WineNews, though that figure was down 9.1% from 2024, a decline largely tied to tariffs. The start of 2026 has been weaker still, with exports falling another 27.4% in the first two months compared with the same period in 2025, to 243.4 million euros.

Federvini said it hopes for a swift completion of the European institutional process so that the agreed measures can take effect as soon as possible. The next steps include a vote in the European Parliament’s International Trade Committee on June 2, followed by a plenary vote in mid-June. If lawmakers approve the text, the Council of the European Union will still need to give final ratification before the rules can enter into force.