By Editorial Staff
Get Up Mornings with Erica Campbell
https://getuperica.com/
U.S. President Donald Trump has proposed a 200% tariff on alcohol imports from Europe, sparking fears of a global trade war.
“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,” he wrote in a post to Truth Social. “This will be great for the wine and champagne businesses in the U.S.”
This move is in response to the European Union’s plan to impose tariffs on American whiskey and other products.
“We deeply regret this measure,” European Commission President Ursula von der Leyen said. “Tariffs are taxes. They are bad for business, and worse for consumers. They are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake. Prices will go up.”
The escalating trade tensions have led to concerns from industry leaders on both sides of the Atlantic and have prompted other nations like Canada to consider countermeasures.
Despite the market volatility, U.S. Treasury Secretary Scott Bessent remains hopeful about the strategic changes in the U.S. economy.
Since returning to office, the president has threatened and imposed tariffs on several major U.S. trading partners. He raised tariffs on all steel and aluminum imports to 25%, leading to retaliatory measures from the EU.
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