The president of the United States, Donald Trumpannounced on Thursday his intention to impose tariffs of 200% on wine and other alcoholic beverages of the European Union if the block does not immediately revert a 50% tax on US whiskey. The measure, which intensifies commercial tensions between two historical allies, is part of the tariff pressure strategy that the president has used since the beginning of his second mandate.
“The European Union, one of the most hostile and abusive entities regarding taxes and tariffs, was created only to take advantage of the United States,” Trump wrote in the Social Truth Network. «If this tariff is not immediately eliminated, USA will impose a 200% tariff to all wines, champagne and alcoholic products from France and other countries represented by the EU. This will be excellent for wine and champagne business in the US, ”he added.
According to official trade figures, The United States exports alcohol worth about 135 million dollars a yearwhile it matters just 22 million. The largest European imports to the United States are from France, the United Kingdom, Ireland and Italy.
The European Commission confirmed that its trade commissioner has contacted its American counterparts and that conversations are being prepared to address the dispute.
The United States is the largest wine and champagne import market worldwide, with annual sales that exceed 4.9 billion dollars in wine and 1.7 billion in champagne. In contrast, US wine exports are around 1,000 million dollars, while champagne and foamy ones add up to 67 million.
Tariff proposed by Trump could have a significant impact on American consumers, which depend largely on imported products, especially on French wine. In Wall Street, the measure generated an immediate reaction: the future stock markets fell after the announcement, although they recovered part of the lost terrain after the publication of a favorable report on inflation.
Commercial protectionism has been one of the president’s main economic strategieswho argues that the United States commercial deficits reflect weakness. Despite the warnings of economists and business groups on the negative effects of its tariff policy, Trump maintains its position, ensuring that it is a transition phase towards a stronger economy.
The announcement occurs a day after American tariffs on steel and aluminum imports, which led to EU and Canada to impose retaliation measures against US products.
#Trump #threatens #tariffs #wine #liquor #response #American #whiskey #tax
