The recent imposition of 25% tariffs on steel and aluminum by the U.S. has triggered swift retaliatory actions from major trading partners, particularly the European Union and Canada. The EU reinstated significant counter-measures, including hefty tariffs on American whiskey. In response, President Trump threatened a dramatic increase in tariffs on European wine and Champagne, suggesting it could benefit U.S. businesses. However, historical data indicate that such tariffs could adversely affect the hospitality sector, which relies heavily on imports, sparking calls for a spirits agreement to avoid further economic fallout.
On Wednesday the U.S. imposed 25% tariffs on steel and aluminum, prompting retaliation from top trading partners like Canada and the European Union.
We urge President Trump to secure a spirits agreement with the EU to get us back to zero-for-zero tariffs, which will create U.S. jobs and increase manufacturing and exports.
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