Escalating trade dispute: Trump proposes doubling tariffs on European alcohol imports
Trump takes a swing at the EU on Thursday, threatening to slap a whopping 200% tariff on their fizzy fermented grape juices and other alcoholic concoctions – setting the stage for a boozy tug-of-war that could spiral outta control.
Hitting up Truth Social, our former POTUS wrote that his admin would give the EU a boozy taste of their own medicine––unless they retract the 50% tariff they dropped Wednesday on US whiskey.
"You wanna play hardball? Well, we ain't scared. We'll smack a 200% tariff on all your champagnes, wines, and other boozy stuff coming from France and the rest of those EU-represented countries." Yikes!
Basking in the glory of this potential windfall for domestic vintners and bubbly brewers, Trump made his move after the EU retaliated against his steel and aluminum tariffs. Seems like payback is a dish best served with a side of drinks, huh?
In the Oval Office on Wednesday, our fearless leader promised retaliation and didn't hold back. "You wanna mess with us? We ain't afraid," said Trump. Being that he never backed down from a fight, it didn't come as a complete shock that he'd follow through with his threats.
Calling the EU "one of the most aggressive, abusive taxing and tariffing entities in the world," Trump found their retaliatory tariff on US bourbon "nasty". Now, ain't that just the cherry on top of this sour grapes situation?
Stay tuned for updates on this boozy trade war. It's about to get lit(eral)!
- In response to the EU's 50% tariff on US whiskey, Trump threatened to impose a 200% tariff on champagnes, wines, and other alcoholic beverages from France and EU-represented countries, unless the EU retracts their tariff shortly.
- The escalation of tariffs between the US and EU on their alcoholic beverages has been initiated due to retaliation for Trump's previous tariffs on steel and aluminum, which the EU found abusive and aggressive.
- If the EU does not retract their tariff on US whiskey, the business of US vineyards and champagne producers could potentially benefit significantly, as Trump's administration prepares to hit the EU with a 200% tariff on their alcoholic beverages.
