03/13/2025

Trump Threatens 200 Percent Tariff on French Champagne, European Wine and Spirits

Some are saying his "threaten tariffs" campaign is too risky for the market

Today, President Donald Trump threatened a 200 percent tariff on European wine, champagne and spirits if the European Union goes forward with a planned tariff on American whiskey.

The European tariff, which was unveiled in response to steel and aluminum tariffs by the U.S. administration, was expected to go into effect on April 1. 

But Trump, in a morning social media post, vowed a new escalation in his trade war if the EU pushes ahead with the planned 50 percent tariff on American whiskey. The back-and-forth with the European Union is the latest fallout from Trump's escalating war with U.S. trade partners. American companies have been expressing alarm over Trump's tariffs, warning that the impact will be felt by consumers and hurt the economy.

Please select this link to read the complete article from WBNS-10TV.