Trade Pact With South Korea Could Help Wineries
The United States and South Korea have finalized a trade pact that will lift tariffs off of several products, including wine, that could help boost sales for local wineries.
Congress passed the deal back in October but it took until Wednesday to finalize the agreement.
Wineries were paying up to nearly 80 percent in taxes to ship its wine to South Korea before the agreement.
Keith Pilgrim, Terra Blanca Winery owner/winemaker, said his winery passed up on exporting his wine to the country before because it was just too expensive.
"I think it'll be a great thing for Washington wineries," Pilgrim said. "The tariffs were one of the reasons we decided not to put a lot of focus on that market and so we will be re-looking at that."
Other products that will benefit from the lifted tariffs are cherries, steak, potatoes and apples; all of which are big exports for Washington state.