The cost of wine produced in the United States and shipped to China sharply jumped
The cost of wine produced in the United States and shipped to China sharply jumped after the recent increase in duties by Beijing in the framework of the trade war with Washington.
According to Bloomberg, the aggregate value of margins and tariffs has reached 93% of the cost of the drink, reports Lenta.ru.
Trade confrontation led to the fact that the two countries imposed goods on each other with mutual 25 percent duties. Under the restrictions falls and wine released in the state of California, which previously accounted for up to 90% of all foreign shipments of American wine. At the same time, the start of the trade war, exports to China fell by a quarter, and some Chinese restaurants were forced to cancel orders.