News Summary

• On August 1, a 15 percent tariff went into effect on most European goods imported to America.
• Despite some initial hope that alcohol might be spared as part of a Trump-E.U.
• trade deal, the tariff remains in effect for booze.
• Small- and medium-sized wineries in California are reporting price increases on key input materials, including glass, corks, and barrels.
• As has been the theme of Trump's trade war, in the end, it's American businesses and consumers that suffer.