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The European Commission has approved a €5 billion French re-insurance scheme to support wine and spirits exports to the US from 8 May to 8 July 2025.

The scheme, part of the Cap Francexport re-insurance regime, aims to help French exporters export goods to the US before new tariffs are implemented.

The Cap Francexport scheme, administered by Bpifrance Assurance Export, typically provides export credit insurance for countries where commercial risks are not covered by private insurers. This temporary measure will extend coverage to the US, specifically for French wine and spirits exports, addressing the short-term risk posed by the upcoming tariffs.

The Commission's assessment confirmed the scheme met EU State aid rules, as outlined under Article 107(3)(c) of the Treaty on the Functioning of the European Union. The measure is deemed necessary and proportionate to ensure continued exports during the critical period, and it is designed to address the temporary market shortage of export credit insurance.

This decision follows the US's announcement on 2 April 2025 of new tariffs on a range of goods, including a 20% tariff on agri-food and drink products. Although the US paused some planned tariffs on the EU in April, the European Commission has warned that countermeasures could be reinstated if negotiations fail to reach a favourable resolution.

Teresa Ribera, executive VP of the European Commission for a Clean, Just and Competitive Transition, said: "The Commission responded rapidly to France’s request to approve this export re-insurance scheme. Given the possible EU-wide shortage of export credits to the US during this period, the Commission will apply the same approach to all comparable future cases notified by Member States."