TWE has suffered at the hands of Chinese tariffs over recent years, but these have now been lifted, and a Trump victory would likely see them redirected towards US wine producers. Unfortunately, from TWE’s perspective, less than 5% of Chinese wine imports come from the US, but it all helps. However, the US has become an increasingly important market for TWE, and they’re now likely to be on the receiving end of 10% tariffs by Trump if he wins, depending on his mood that day, fortunately not too significant a headwind. There is a mixed picture on the tariff front, but the recent huge Chinese stimulus will hopefully get the world’s 2nd largest economy back drinking Grange!
- We believe TWE will benefit more from China’s stimulus than respective tariffs across the global wine space—MM holds TWE in our Active Growth portfolio.
MM is long and bullish TWE
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