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A Few (positive) Thoughts on Wine Tariffs

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by

Gianluca Queiroli

The text below is aimed at communicating how proactive we are being in light of the potential tariffs applicable to EU wines imported. You will feel very comfortable about your buying needs after reading this, unless you already know!

Policy on Bonded Warehouses and Wine Tariffs

As part of our commitment to managing potential changes in U.S. wine tariffs, we have established a policy regarding the use of bonded warehouses to mitigate the financial and operational impact of such tariffs. A bonded warehouse is a secured facility regulated by U.S. Customs and Border Protection (CBP), where imported goods can be stored without the immediate payment of duties or tariffs. 

Use of Bonded Warehouses for Tariff Mitigation

  • All wines are kept at optimal and controlled temperatures.
  • Imported wines can be stored in bonded warehouses indefinitely without the payment of duties or tariffs until they are withdrawn for consumption in the U.S. market.
  • Storing wine in a bonded warehouse allows for greater flexibility in responding to tariff changes. If tariffs are imposed or increased, the wine can remain in the bonded facility until tariffs are reduced or lifted.
  • Importers may choose to store wine in a bonded warehouse and monitor tariff trends to strategically time the release of wine into the market when tariff rates are more favorable.

Financial and Operational Considerations

  • Storage fees for bonded warehouses will be factored into the overall cost at as little as $10 per case of wine, per month.
  • We will be maintaining accurate records of all wines held in bonded storage, including lot numbers, vintage, and release dates.
  • Insurance coverage for wine held in bonded warehouses will be included.

Compliance and Customs Regulations

  • All your wines stored in bonded warehouses must comply with CBP regulations, including proper labeling, tax identification, and record-keeping requirements.
  • You can decide to release your wines are any time and we will take care of all the proper filing of customs documentation.