Politics
“This will likely be nice for the Wine and Champagne companies within the U.S.”
WASHINGTON (AP) — President Donald Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes ahead with a deliberate tariff on American whiskey.
The European tariff, which was unveiled in response to metal and aluminum tariffs by the U.S. administration, was anticipated to enter impact on April 1.
However Trump, in a morning social media submit, vowed a brand new escalation in his commerce struggle if the EU pushes forward with the deliberate 50% tariff on American whiskey.
“If this Tariff is just not eliminated instantly, 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. “This will likely be nice for the Wine and Champagne companies within the U.S.”
The Republican president on Wednesday had signaled that he meant to take the motion.
“In fact I’ll reply,” Trump advised reporters throughout an Oval Workplace trade with reporters.
Trump, in asserting the brand new metal and aluminum tariffs on Wednesday, brazenly challenged U.S. allies and vowed to take again wealth “stolen” by different international locations, and he drew fast retaliation.
He has separate tariffs on Canada, Mexico and China, with plans to additionally tax imports from the European Union, Brazil and South Korea by charging “reciprocal” charges beginning on April 2.
The EU introduced its personal countermeasures. European Fee President Ursula von der Leyen stated that as the USA was “making use of tariffs value 28 billion {dollars}, we’re responding with countermeasures value 26 billion euros,” or about $28 billion.
These measures cowl not simply metal and aluminum merchandise but in addition textiles, dwelling home equipment and agricultural items.
European Fee spokesman Olof Gill stated Thursday shortly earlier than Trump’s announcement that the EU was “ready for no matter would possibly come, and we’ve got been making ready for over a 12 months.”
“We name on the U.S. to instantly revoke the tariffs imposed yesterday, and we need to negotiate to keep away from tariffs sooner or later,” Gill added. “They create nothing however lose-lose outcomes, and we need to deal with win-win outcomes.”
U.S. bourbon makers, in the meantime, urged Trump to again off his commerce struggle.
“The US-EU spirits sector is the mannequin for truthful and reciprocal commerce, having zero-for-zero tariffs since 1997,” Chris Swonger, president and CEO of the Distilled Spirits Council, stated in a press release. “We urge President Trump to safe a spirits settlement with the EU to get us again to zero-for-zero tariffs, which is able to create U.S. jobs and enhance manufacturing and exports for the American hospitality sector. We would like toasts not tariffs.”
AP writers Lorne Prepare dinner in Brussels and Mike Warren contributed reporting.
