Following the European Union’s decision to impose a 50 per cent tariff on American whiskey, United States President Donald Trump threatened a 200 per cent tariff on all wines, champagnes and alcoholic products “coming out of France and other EU represented countries”.
In a post on his social media platform Truth Social, Donald Trump stated, “The European Union, one of the most hostile and abusive taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50 per cent tariff on whisky.”
“If this tariff is not removed immediately, the US will shortly place a 200 per cent tariff on all wines, champagnes and alcoholic products coming out of France and other EU represented countries. This will be great for the wine and champagne businesses in the US,” he added.
In a separate post, Trump lashed out at other countries, saying the "entire world is ripping" US off. "The US doesn't have Free Trade. We have Stupid Trade," he wrote in a post on Truth Social.
In response to US tariffs on steel and aluminum, the European Commission said on Wednesday it will introduce counter tariffs on 26 billion euros ($28 billion) worth of American goods beginning next month.
While escalating the trade dispute, the EU stressed that it remains open to talks and views increased tariffs as counterproductive.
The European Commission said it will end its current suspension of tariffs on US products on April 1 and that its tariffs will be fully in place by April 13.
"This matches the economic scope of the US tariffs. Our countermeasures will be introduced in two steps. Starting with 1 April and fully in place as of 13 April," Ursula von der Leyen, president of the European Commission, said in a statement.
"In the meantime, we will always remain open to negotiation. We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs. We are ready to engage in meaningful dialogue. I have entrusted Trade Commissioner Maros Sefcovic to resume his talks to explore better solutions with the US," she added further.
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