Osborne Group: US tariff measures will generate losses

The CEO of the Osborne Group, Fernando Terry Osborne, described as “discouraging” that the US tariff policy, although temporary, leads to a loss of positions in this market, which “others will occupy.”

He also stressed that countries like Spain invest heavily in countries like the US. in promotion and it is something they are loosing. “The space you vacate is occupied by another”, he lamented, adding that recovering that position “costs a lot in terms of profitability.”

The Osborne Group plans to close the year with sales growth, but does not rule out a reduction in Ebitda for its investment commitment to renew its product catalog. “You have to sacrifice a part of the profitability”, said the CEO of the group.

The manager made these reflections during a press conference offered in the framework of the 34th AECOC Congress. He studied the economic situation, the impact of Brexit and the US tariff policy on Spanish products and, specifically, the effects on Spanish wines.

Regarding this last aspect, he indicated that, even if it is about temporary measures that “will not last long in time”, in the end, “the fact of putting on a tariff takes you out of the space in which you were competing”, which is “discouraging”.

K. Tovar

Source: La Vanguardia