Trump threatens 200% tariffs on wine and spirits from Europe

This is a response to the new EU tariffs of 50% on American whiskey.

«If these tariffs are not removed immediately, the United States will shortly impose tariffs of 200% on all wines, champagnes, and alcoholic products coming from France and other EU countries», Trump declared on his Truth Social platform.

«This will be excellent for wine and champagne companies in the United States,» he added. However, many pointed out the lack of champagne producers in the United States.

The threat had an immediate effect on European giants in the stock market. Indeed, LVMH lost nearly 2% just minutes after Donald Trump’s post on Truth Social. Likewise, Pernod Ricard lost 4% and the Rémy Cointreau group over 4%.

On Wednesday, Chris Swonger, CEO of the Distilled Spirits Council of the United States (DISCUS), called the EU’s measure against American whisky «deeply disappointing.» 

«[It] will severely undermine the fruitful efforts to rebuild American spirits exports to EU countries», he stated.

Tariffs of 25% on steel and aluminum from the EU imposed by Trump came into effect last Wednesday at midnight.

As a retaliation, the EU announced the imposition of tariffs on a value of 28 billion US dollars of American products, including boats, bourbon, and motorcycles. These measures will take effect starting next April.

The American president then announced in the Oval Office that he will soon retaliate against these new European tariffs.

According to him, the EU is «one of the most hostile and abusive tax and tariff authorities in the world, created solely to take advantage of the United States.»