The "entire" Italy spirits and liqueurs sector is at risk from US tariffs, wine and spirits federation Federvini said Wednesday. "The US tariffs put at risk the entire sector of the production of spirits, liqueurs and cordials," it said. "Trump's axe may hit a hundred or so companies and several thousands jobs," it said.

"The tariffs will spell a net loss of export value of at least 35%". The US is the second biggest export market for the sector after Germany. The United States last Wednesday said it would slap 10% tariffs on European-made Airbus planes and 25% duties on French wine, Scotch and Irish whiskies, and cheese from across the continent as punishment for illegal EU aircraft subsidies.