Loss of US fine wine buyers following Trump tariffs akin to the ‘exodus’ of Asian buyers in 2010

Friday, 3 October, 2025
The Drinks Business, Arabella Mileham
US buyers of fine wine have remained wary in the months following the imposition of Trump’s tariffs, their “exodus” triggering “some of the sharpest declines” since the downturn began.

In a recent webinar Liv-ex’s market analyst of market intelligence Sophia Gilmour said that the “importance of US buyers had perhaps not been fully realized until their exodus”, noting that it was “almost akin to that of Asian buyers in the late 2000s.”

Outlining the defining trends of the year, Gilmour noted that at the start of this year, the outlook was positive, with traded volumes up, prices seeing minimal declines and an area of positivity in the market. “The first quarter looked solid and we saw some stability,” she said. “A recovery, or at least sideways movement, looked likely.”

However, this changed in March with the threat of trade tariffs and “immediately” US buyers – whose market share had grown to 35% of traded value in 2024 – withdrew their bids.

“Traded volumes dropped, and soon after, so too did prices,” she said.

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