The United States unleashed the “commercial war” with the Asian giant. This quickly affected the price of Chilean copper, whose price had a free fall in the international market. However, in all this situation there is a favored one: the majestic Chilean wine.
According to data from the Directorate of International Economic Relations (Direcon) of the Chilean Foreign Ministry, wine consolidates Chile’s position as the world’s fourth largest exporter and broadens its outlook to be outside the orbit of tariff increases.
China, which is already a major importer of Chilean wine and has a Free Trade Agreement, could increase its purchases. The Asian giant imposed a 40% tariff on the drink of the gods of the United States.
China overtook the United States as the largest market for Chilean wines in 2016, increasing imports by 27.5% to US $ 267 million.
Wine producers want to replace most of the US $ 75.6 million that their US counterparts exported to China last year, part of them in premium wines, which adds to the growing demand from the Asian nation.
The same benefits would be enjoyed in the short term by cheeses and nuts without Chilean shells, in a portfolio that seeks to diversify as much as possible under Chile’s free trade agreements with 26 countries and 64 economies.
However, the decline in the price of copper kept the concern in the southern nation, the largest producer and exporter of reddish ore. In the last hours, copper fell to 2.7757, its lowest range since July 2017.
Learn more about Chilean wines, premium wines and export wines produced in the Maule region of Chile, where the Cortahojas.com vineyard has its main export products to the five continents.
Learn more about wines at cortahojas.com