President Trump has threatened to impose a 200% tariff on wines, champagnes, and alcoholic beverages from France and the European Union as a retaliation against proposed tariffs on American whiskey exports. This marks a significant escalation in the ongoing transatlantic trade war. In response, the EU plans to enact countermeasures, potentially impacting up to $28.3 billion worth of American products. Meanwhile, European spirits companies like LVMH and Pernod Ricard saw their shares decline as the market reacted to these developments.
President Donald Trump threatened to impose a 200% tariff on wine, champagne and other alcoholic beverages from France and the EU in response to European tariffs on American whiskey.
The escalating trade war has resulted in falling shares for European alcohol producers, with companies like LVMH and Pernod Ricard experiencing notable declines in stock value.
Laurent Saint-Martin, France's trade minister, emphasized that they will not yield to the threats, indicating a firm stance on protecting their industries amid this trade conflict.
The EU plans to implement countermeasures with duties on up to $28.3 billion of American products, showing a willingness to retaliate against U.S. tariffs.
Collection
[
|
...
]