Trump threatens 200% tax on alcoholic beverages imported from Europe

US President Donald Trump on March 13 threatened to impose a 200% tax on alcoholic beverages imported from European Union (EU) countries as a response to European taxes on American wine.

“The European Union has just imposed a 50% tariff on American whiskey. If this order is not immediately rescinded, the United States will soon impose a 200% tariff on all wine, champagne, and other alcoholic products from France and other countries in the EU. This would be a great thing for the wine and champagne businesses in the United States,” Trump wrote on the social network Truth Social on March 13.

Also in the above article, Mr. Trump criticized the EU as "established solely for the purpose of taking advantage of the United States".

Trump tariffs on metal imports take effect, EU quickly retaliates

The EU has yet to respond to President Trump’s latest post. Earlier on March 12, the EU announced it would impose tariffs worth $28 billion on products imported from the US, in response to the US’s import tariffs on aluminum and steel, including the announcement of a 50% tax on spirits in the US.

In 2018, Europe imposed a 25% tax on spirits from the US. In June 2021, the tax increased to 50%, after which the parties agreed to suspend the tax until March 31, 2025.

US President Donald Trump at the White House on March 11

The reinstatement of the tariffs on spirits has industry players concerned about the impact on European companies involved in US wine production, the impact on US companies investing in the European wine industry, and the threat to jobs in rural wine-producing areas.

The European Commission said there was still room for negotiations and stressed that no one would benefit from the tariff hike.

In a development related to Mr. Trump's tariff policy, CEO David Solomon of Goldman Sachs, a famous multinational investment bank in the US, said that the business community understands what Mr. Trump intends to do with his tariff decisions.

"Right now, the business community wants lower tariffs everywhere in the world . There's uncertainty and the market will have to go through that, but we'll have to see how things develop," The Hill quoted Mr. Solomon as saying on March 12. Mr. Solomon said that businesses generally still want to receive more certainty from the White House boss.

Source: https://thanhnien.vn/ong-trump-doa-danh-thue-200-len-do-uong-co-con-nhap-tu-chau-au-185250313195524682.htm