Trump threatens France with 200% wine and Champagne tariffs
Trump threatens France with 200% wine and Champagne tariffs
"This will be great for the Wine and Champagne businesses in the U.S.," Trump wrote.
President Donald Trump threatened to put a 200 percent tariff on all alcoholic products coming out of the European Union, including French wine and Champagne, as he takes the transatlantic trade war up a notch.
"The European Union, one of the most hostile and abusive taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% Tariff on Whisky," Trump wrote on his Truth Social platform Wednesday morning.
"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.
"This will be great for the Wine and Champagne businesses in the U.S."
These tariff exchanges will continue until April 2. If deals aren't reached by then, Trump will impose reciprocal tariffs on all America's trading partners, who may return fire with other countermeasures. Global markets are unsettled by the ongoing trade war and fear a recession is looming as a result.
