The EU announced retaliatory tariffs on $28bn of US goods, imposing a 50% levy on US bourbon whiskey in response to US steel and aluminium tariffs. President Trump threatened a 200% tariff on European wines and alcoholic products if the EU proceeds with its whiskey levy. French Trade Minister vowed to resist such tariffs, claiming it escalates a trade war initiated by the US. The situation illustrates escalating tensions between the US and EU over trade, with potential significant impacts on consumer prices for exported alcoholic beverages.
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 on his Truth Social platform in response to the EU announcement.
France swiftly responded that it would fight back against any tariffs on alcohol, stating, 'We will not give in to threats,' said Foreign Trade Minister Laurent Saint-Martin.
Olof Gill, the European Commission spokesperson in charge of trade issues, urged the US to revoke its duties on steel and aluminium, emphasizing the need for dialogue.
If the US were to impose a 200 percent tariff on alcohol imports from the EU, a previously un-tariffed $15 bottle of Italian prosecco could possibly increase in price to $45.
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