It is the top-selling wine in the US, but why has President Donald Trump made Americans stockpile Prosecco?
US imports of Italian wine – 90 percent of that Prosecco – skyrocketed by 41 percent in November, following Trump’s election, AP reports – far exceeding consumer demand as importers filled the pipeline for future sales.
It appears American importers have been stockpiling as a hedge against the possible impact of tariffs threatened by Trump.
Lucio Miranda, president of Export USA consultancy group, said: “The technical terms of what is happening is front loading and this is something that is happening. We’ve seen it before during the first administration (Trump’s administration) when they announced extra duty rates. And we see it now.”
