Although there is no clarity over whether there will be massive tariffs which are going to come into effect in the coming month, the wine company Moore Brothers is not leaving things to chance.
The retailer that is operating in the regions of New Jersey, Delaware and New York has ordered over 35,000 imported wine cases for delivery by the beginning of the month of February if the administration decides to follow up on their threat for the tariffs being close to the 100% levels and their levy on a lot of other goods.
David Moore who is the co-owner of this business said that it is absolutely terrible and says that they hope to make sure that they are not going to double the prices of the wine in one night.
The imports of wine from the European Union has already been facing duties of 25% however the Trade Representatives office have floated the idea of making them reach a level of 100% with the battles which are going on over the tariffs on the airliner Airbus. The trade representatives have not commented on this yet.
Though China and the United States have been working out a deal for their respective battles of tariff, the issue of wine is an issue that is only one among the issues of trade which remain unresolved all over the world.
The Beige Book updates by Federal Reserve on the conditions of the economy in a lot of districts across the world which was released this Wednesday has contained as many as 17 tariff references. In a lot of the districts, trade uncertainty and tariffs have been weighing in on a lot of the businesses.
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