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Spanish winemakers are safeguarding sales by stockpiling inventory ahead of possible U.S. tariffs
A leading Spanish winery is preparing for potential U.S. tariffs on European Union products by stockpiling extra inventory in the American market. Protos, a renowned winery from Spain’s Ribera del Duero region, has shipped enough wine to sustain sales for up to six months in case tariffs—potentially as high as 10%—are imposed.
Industry data shows that other Spanish wineries are taking similar precautions, while U.S. companies rush to import European goods such as auto parts, Italian parmesan, and French cognac ahead of possible tariffs.
According to the Spanish Wine Federation, Spain’s wine exports to the U.S. surged 20% in December, a trend partially driven by importers stockpiling ahead of trade uncertainties. The U.S. remains the second-largest export market for Spanish wines, following Germany, with Protos alone exporting around 250,000 bottles annually.
Past U.S. tariffs on European wines, such as the 25% duties imposed in 2019 under Donald Trump's administration, largely spared Spain.
With trade tensions rising, Spanish winemakers are taking proactive steps to safeguard their position in the U.S. market, ensuring continued availability for American consumers despite looming uncertainties.
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Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladimir Putin. The talks took place on the sidelines of the international Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday (12 December).
Iranian authorities have seized a foreign tanker carrying more than 6 million litres of smuggled fuel in the Sea of Oman.
Russian forces struck Ukraine’s southern port city of Odesa for a second consecutive day on Saturday (13 December), deploying Kinzhal hypersonic missiles for the first time in the conflict, Ukrainian authorities said.
A bulk carrier owned by a Turkish company was struck during a Russian attack on Ukraine’s southern coast on Friday.
Street clashes broke out for a second night in the Tunisian city of Kairouan after a man died following a police pursuit, raising fears of wider unrest as the country nears the anniversary of the 2011 revolution.
Turkish Foreign Minister Hakan Fidan says international cooperation is essential for Syria’s recovery as investment slowly begins to return despite the scale of destruction after years of conflict.
Thailand’s caretaker Prime Minister Anutin Charnvirakul said on Saturday (13 December) that Thai forces would continue military action along the Cambodia border until Bangkok believes there is no longer a threat to Thai territory or civilians.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
EU foreign policy chief Kaja Kallas has warned that without concrete concessions from Russia, such as limiting its military forces or curbing its defence budget, new conflicts could erupt elsewhere, even if Ukraine receives security guarantees.
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