President Trump has threatened a 200% tariff on European wines and spirits if the EU follows through on a 50% tariff on American whiskey. This escalation is tied to a broader trade conflict ignited by U.S. tariffs on steel and aluminum. The EU has initiated countermeasures valuing around $28 billion, showcasing a tit-for-tat approach in international trade. This heightened tension could significantly influence the beverage industries in both regions, particularly benefiting U.S. wine and champagne sectors while harming imports from Europe.
"If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES," Trump wrote.
Trump's announcement comes on the heels of a new push against U.S. allies, drawing sharp responses including countermeasures from the European Union worth about $28 billion.
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