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Bottles of Prosecco are lined up on a shelf of a wine shop in Rome last month. Trump's threatened 200% tariffs, if they go into effect, could impact products like imported Prosecco, French champagne and Spanish wine.
European wines, champagne and other beverages could face a heavy barrier if President Trump follows through with a threat to impose a 200% tariff on imports.Trump's 25% tariff on aluminum and steel went into effect on Wednesday — a move that the EU calls"unjustified." In response, the EU announced tariffs on €26 billion worth of U.S. goods, including agricultural products and bourbon.The threatened alcohol tariff marks an escalation of the ongoing trade war with Europe, and is Trump's response to the European Union's retaliation against U.S. steel and aluminum tariffs.In an escalation of the ongoing trade war with Europe, President Donald Trump is now threatening a 200% tariff on European alcohol in response to the European Union's retaliation against U.S. steel and aluminum tariffs.He added that if the bloc doesn't walk back a planned 50% tariff on whisky, then"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. This will be great for the Wine and Champagne businesses in the U.S."Chris Swonger, president and CEO of the Distilled Spirits Council of the United States, urged Trump to reach an agreement with the EU that avoids any further tariffs and harm to the U.S. spirits industry. "The U.S.-EU spirits sector is the model for fair and reciprocal trade, having zero-for-zero tariffs since 1997," Swonger said in a statement to NPR."The U.S. spirits sector supports more than $200 billion in economic activity, 1.7 million jobs across production, distribution, hospitality and retail, and the purchase of 2.8 billion pounds of grains from American farmers." "We urge President Trump to secure a spirits agreement with the EU to get us back to zero-for-zero tariffs, which benefits the hospitality industry and U.S. craft distillers who export their products," he added."We want toasts not tariffs."
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