White Plains, NY, Dec. 20, 2019 (GLOBE NEWSWIRE) -- The threat of 100% tariffs on all European wines has forced Zachys to take a leading position in opposing the tariffs and encouraging its customers, other retailers, wholesalers, distributors and all wine lovers to lend their voice to a fast-growing opposition movement.
The current administration is considering expanding 25% tariffs on a select group of European wines imposed in October 2019 to 100% tariffs on ALL wines from the European Union. The 100% tariffs could go into effect as early as January 2020.
Jeff Zacharia, President of Zachys and a Director of the National Association of Wine Retailers (NAWR), said “This is a potentially monumental event for the wine industry in the U.S., harming everyone from the casual wine consumer to major collectors, and every party involved in getting wines from growers in Europe to wine lovers in the US. We felt it was imperative that we take a leading position in motivating our customers and ultimately, the entire industry and all wine consumers, to strongly oppose these tariffs.”
Zachys has emailed customers with instructions for contacting their Congresspeople and the U.S. Trade Representative to oppose wine tariffs and has leveraged social media platforms to broadcast the message to a wider audience. With information provided by the NAWR, Zachys has highlighted compelling opposition points, such as:
- Wine margins are extremely small, the sale of which is highly regulated, with mark-ups occurring at each of the three tiers of wine distribution in the U.S. Therefore, a 100% tariff will likely result in a staggering 150% increase in retail wine prices.
- These retaliatory tariffs are a result of disputes involving Boeing and Airbus and/or digital service taxes and should instead target those parties and industries.
Zachys has created an easy and quick way to voice opposition from a special page on their website: Zachys.com/oppose-wine-tariffs.
About Zachys
Founded over 75 years ago, Zachys is a third generation family-run fine wine business. It is one of the largest independent wine auction houses and retailers in America with offices in New York, Washington, D.C., Hong Kong, and dedicated wine specialists in mainland China, Tokyo, London, and Paris. CEO Don Zacharia played a major role in creating the fine wine auction marketplace in America. Today, Zachys has established itself as the nation's largest and most powerful retailer and auctioneer of fine Bordeaux, Burgundy and beyond. For more information visit Zachys.