The European Commission has approved a 5 billion euro French scheme to facilitate the export of wines and spirits to the United States. The announcement was made on Thursday, May 8th.
The temporary scheme, approved under EU state aid rules, will be in place from May 8, 2024, to July 8, 2025. It allows exporters of wines and spirits to export inventory to the U.S. before new tariffs take effect.
The scheme aims to mitigate the impact of potential tariffs on French wine and spirit exports to the United States, ensuring continued trade flow.