One would think that higher tariffs on European wine would help California winemakers crawl out of their financial hole. But that’s not necessarily the case.

Depending on the final tariff - if any - consumers may set aside their love of French burgundy and bordeaux. But my guess is that wealthy collectors are not going to be deterred by a 10 percent increase. The rest of us may - I certainly will cut back purchases of European wine if prices escalate substantially.

But no one can assume California wine prices will drop. In fact, they are likely to increase with tariffs. The reason? U.S. winemakers get their corks, bottles and other winemaking parts from Europe.

California winemakers agree that tariffs are not good for them either. They also aren’t good for high-end restaurants that cater to customers who want European wines. Can you imagine going to an Italian restaurant and not finding chianti on the menu?