Tariff Update

March 16, 2026

Dear Clients, and Friends,

We are writing to provide an update on two important topics: a change to our tariff deposit policy effective immediately and the latest developments regarding historical IEEPA tariff refunds.

Update to Our Tariff Deposit Policy

When we last wrote to you in February, credible signals from the administration suggested that Section 122 tariffs on imports could rise from 10% to 15% at any moment. Out of an abundance of caution, we chose to collect a 15% deposit on all shipments to protect our customers from unexpected cost increases while their wine was in transit. That 15% increase has not materialized to date. After careful consideration, we have decided that continuing to collect the rate of 15% no longer serves your best interests. Effective Monday, March 16, 2026, we will collect tariff deposits at the applicable rate of 10%. Should the tariff rate change in the future, we will communicate any adjustments to you promptly and transparently, just as we always have.

For our supplier partners in France, please feel free to share this update with your customers. The tariff collected at U.S. customs clearance is 10%, and that is now exactly what we will collect — nothing more. Any customers who paid a 15% deposit on shipments that cleared customs at 10% have already received or will shortly receive a refund of the 5% difference.

Update on Historical IEEPA Tariff Refunds - shipments cleared early April 2025 to February 24, 2026

There have been encouraging developments regarding the IEEPA tariffs that the Supreme Court ruled unlawful, including recent hearings before the Court of International Trade involving Customs and Boarder Protection's executive director. However, we expect a considerable amount of legal process ahead before any refund mechanism is finalized and we cannot predict how quickly this will be resolved or if the administration will fight refunds outright.

What we can tell you is this: we have done everything within our control to be ready. All required documentation has been filed, all administrative requirements have been met and we have maintained complete and accurate records for every shipment and every dollar paid on your behalf. The moment a refund process is established (if it is), we are positioned to act immediately to recover what is owed to you.

We will continue monitoring every development closely and will reach out the moment there is actionable news.

As always, please do not hesitate to contact us with any questions.

The Cote d'Or Imports Team