Close Menu
Finletix
  • Home
  • AI
  • Financial
  • Investments
  • Small Business
  • Stocks
  • Tech
  • Marketing
What's Hot

Cursor apologizes for unclear pricing changes that upset users

July 7, 2025

Why It’s a Good Time to Buy an EV

July 7, 2025

Tesla shares sink after Elon Musk says he will launch new US political party

July 7, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
Finletix
  • Home
  • AI
  • Financial
  • Investments
  • Small Business
  • Stocks
  • Tech
  • Marketing
Finletix
Home » How a small, family-run wine company hit back against Donald Trump’s tariffs
Stocks

How a small, family-run wine company hit back against Donald Trump’s tariffs

arthursheikin@gmail.comBy arthursheikin@gmail.comMay 29, 2025No Comments4 Mins Read
Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
Share
Facebook Twitter LinkedIn Pinterest Email



CNN
 — 

Behind the monumental court ruling that blocked most of US President Donald Trump’s tariffs is a small wine company run by a father-and-daughter duo.

VOS Selections – a small, New York-based wine company – was the lead plaintiff in the lawsuit which prompted a three-judge panel at the US Court of International Trade to strike down Trump’s sweeping global tariffs on Wednesday.

The decision found Trump overstepped his authority by invoking emergency economic powers to impose sweeping tariffs on China, Canada, Mexico and other US trading partners.

VOS founder Victor Schwartz never intended to be at the forefront of the resistance to US government policy.

“Put it this way: when I started VOS 40 years ago I had no idea that I was signing up for something like this, getting involved in a lawsuit against the executive branch of the United States,” Schwartz, who runs the business alongside his daughter Chloe, told CNN.

“I just wanted to bring in these delicious wines from interesting appellations across the world and sell those wines to a like-minded community.”

Schwartz was in the middle of cooking a pasta dinner Wednesday when he received an email from his lawyers telling him they had won. His first reaction? Disbelief. Then, his phone started ringing off the hook with media requests and messages of congratulations.

The Trump administration immediately launched an appeal against the ruling, which could make it all the way to the Supreme Court. If it survives the challenge, the ruling would put an end to almost all of Trump’s tariffs, and cut into his leverage when negotiating trade deals with other countries. Tariffs on autos, auto parts, steel and aluminum will continue because they were enacted under a different law.

White House spokesperson Kush Desai said in a statement that “it is not for unelected judges to decide how to properly address a national emergency.”

The Trump administration’s tariffs have been particularly painful for small businesses, which have had to weather surging prices and constantly shifting trade policies without the level of cash flow that larger companies can dip into.

Schwartz said his business, which imports wine, sake and spirits from small-batch producers in countries including France, Lebanon and Japan, was hurt by Trump’s tariffs during the president’s first term.

“We’re not a big company. We can’t just ride out the storm,” Schwartz said.

This time around, when Trump announced unprecedented global tariffs on almost all US trading partners, Schwartz knew he had to fight back.

“Something like this is a complete monkey wrench in your business,” he said, describing the tariffs as an “existential threat.”

Schwartz was put in touch with lawyers at the libertarian advocacy group Liberty Justice Center, which filed the lawsuit on behalf of VOS and four other small businesses, including a women’s cycling apparel company and an online fishing tackle shop.

After some reflection and discussion with his family, Schwartz agreed to be the lead plaintiff in the case, the outcome of which will have implications for consumers and businesses around the world.

Jeffrey Schwab, lead attorney for the Liberty Justice Center, told CNN’s Kaitlan Collins “this is a very important case,” not just because of its economic impact, but “because of the tremendous power grab that the administration is claiming here.”

Schwartz said he is confident in his lawsuit and plans to see it all the way through to the Supreme Court, if necessary. He said the latest ruling is a win for small businesses everywhere.

“We knocked back the tariffs. It’s going to change the whole game plan,” he said, clearly elated.

As one would expect, Schwartz plans to celebrate with a nice bottle of wine.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Previous ArticleChina’s DeepSeek releases update to AI model that sent US shares tumbling earlier this year
Next Article Nvidia Q1 Earnings Call Takeaways: China, China, China
arthursheikin@gmail.com
  • Website

Related Posts

Tesla stock tanks after Trump dismisses Musk’s new political party plan and calls him ‘off the rails’

July 7, 2025

Tariffs, explained: What Trump wants from all these trade deals

July 7, 2025

China sidesteps question on TikTok’s fate in the US after Trump says close to deal

July 7, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

The Trump-Musk breakup appears to be complete

July 7, 2025

Trump announces a 25% tariff on Japan and South Korea

July 7, 2025

Stocks are at record highs as Wall Street faces major tariff test

July 7, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Welcome to Finletix — Your Insight Hub for Smarter Financial Decisions

At Finletix, we’re dedicated to delivering clear, actionable, and timely insights across the financial landscape. Whether you’re an investor tracking market trends, a small business owner navigating economic shifts, or a tech enthusiast exploring AI’s role in finance — Finletix is your go-to resource.

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Tesla shares sink after Elon Musk says he will launch new US political party

July 7, 2025

Another problem with IRRs

July 7, 2025

Hong Kong listings pipeline hits record high as equity market booms

July 7, 2025
Get Informed

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

© 2025 finletix. Designed by finletix.
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms and Conditions

Type above and press Enter to search. Press Esc to cancel.