Five billion boost for French wine exports to the USA

French wine and spirits exporters are celebrating a timely boost as the European Commission approved a €5bn aid package aimed at easing exports to the United States. The move comes as new US tariffs on EU goods loom, with a temporary 90-day suspension in effect until early July.

The French government sought to revive a pandemic-era credit insurance scheme, Cap Francexport, to tackle a Europe-wide shortage of export credit. On 8 May, EU Vice President Teresa Ribera approved the plan, calling it “necessary and proportionate.” The Commission signalled it would support similar schemes in other EU countries, as exporters scramble to ship goods before the tariff window closes.