(CLO) President Donald Trump on Thursday warned that he would impose a 200% tariff on wine, champagne and other alcoholic beverages from Europe if the European Union (EU) does not remove its 50% tariff on American spirits.
In a post on Truth Social, Mr. Trump stated: “If these tariffs are not immediately removed, the United States will impose a 200% tariff on all wine, champagne and other alcoholic products coming from France and other countries in the EU.” He stressed that the move would benefit American wine and champagne businesses.
Bottles of French wine are displayed for sale at a wine shop. (Photo: Getty Images)
The move was a swift response by Mr Trump after the EU imposed a 50% retaliatory tariff on US spirits in response to 25% US tariffs on aluminium and steel that came into effect on Wednesday.
The EU said retaliatory measures worth 26 billion euros ($28 billion) would take effect in April, targeting key US exports such as boats, bourbon and motorcycles. The EU called the move “swift and proportionate” in response to what it called “unreasonable” trade policies from Washington.
The US spirits industry has expressed disappointment at the EU’s 50% tariff. Chris Swonger, CEO of the Distilled Spirits Council of the United States (DISCUS), warned that the tariff would severely impact US spirits exports to Europe.
Canada also recently imposed tariffs on bourbon from Kentucky in response to U.S. trade policies. Some Canadian retailers have pulled American spirits from their shelves in protest of his tariffs.
Ha Trang (according to TS, CNN)
Source: https://www.congluan.vn/ong-trump-de-doa-ap-thue-200-len-do-uong-co-con-tu-chau-au-post338421.html
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