The European Union approves the Plan of France 5 billion euros for wine exports to us

The European Commission has approved a French reinsurance system of 5 billion euros (5.6 billion dollars) to support the export of wine and lives to the United States.

In a statement published on May 8, the committee said that the temporary procedure, which is located under the current CAP Francexport system, was cleared under the European Union government aid.

The reinsurance mechanism provides short -term guarantees to French companies that provide insurance against “commercial and/or political risks” associated with the payment obligations in export transactions.

This measure, which applies from May 8 to July 8, will help companies export products to the United States before entering the new wave in Washington.

On April 2, the United States announced a new wave of definitions on a wide range of goods imported from the European Union.

These definitions include 20 % on products such as Agri-Food, drinks, including wine and spiritual drinks.

Although the United States government issued a temporary pause for a period of 90 days on some planned definitions on April 9, the European Union responded with a suspension for intended counter measures, still uncertainty.

European Commission President Ursula von der Lin said that if the ongoing negotiations fail to achieve a satisfactory decision, the European Union is ready to restore its counter -measures.

The committee concluded that the Paris scheme is “necessary, appropriate and proportional” to facilitate wine exports and spiritual drinks from France to the United States during the limited operational window.

He also determined that the measure has a “incentive effect”, because the two sources concerned will not possess transactions without support.

In April, Chairman of the European Wine Trading Committee of the European Union (CEEV) He will face the wine makers that have been warned for “Rebsorb” Exports to the United States in the wake of the country’s tariff by 20 % on imports of the bloc.

Talk to Just drinkThe Secretary-General of CEEV IGNACIO SáNHEZ-RCARTE said that the producers will have to “re-evaluate” their export strategy after entering 20 % tax.

“The committee quickly responded to France’s request to agree to this export insurance system,” said the CEO of the Teresa Ribera Committee.

“Given the possible shortage at the European Union level in exporting credits to the United States during this period, the committee will apply the same approach to all similar future cases that were notified by member states.”

According to the FIVS and the Life of Wine Exporters (FEVS), the United States is the large market for wine exports and French spirit.

Trade and body data showed The total wine and spiritual drinks in the country slide 0.1 % in size last year To 173.9 million cases.