Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Trump threatens 200% tariffs on European wine over whiskey levy

by March 13, 2025
March 13, 2025
Trump threatens 200% tariffs on European wine over whiskey levy

In a move that heightens the prospect of another trade war across the Atlantic, Donald Trump has vowed to impose a 200 per cent tariff on wine, champagne and other alcoholic products from the European Union unless the bloc immediately lifts its planned surcharge on American whiskey.

The European Commission announced that it intends to apply a 50 per cent levy on US whiskey exports in retaliation for the United States’ recent tariffs on steel and aluminium. However, the former president responded on Truth Social, branding the EU tariff as “nasty” and threatening to raise the stakes by quadrupling costs for European drinks brands in the American market. “This will be great for the Wine and Champagne businesses in the US,” he claimed.

The Trump family is not without its own stake in the drinks industry. Eric Trump, Donald Trump’s son, serves as president of Trump Winery in Charlottesville, Virginia. The 1,300-acre estate offers wine-tasting services, operates a hotel in the foothills of the Blue Ridge Mountains, and sells an array of premium wines, including a “Presidential Reserve: Inaugural Edition” sparkling wine priced at nearly $250.

The EU’s counter-tariffs on American whiskey, which it first introduced in 2018 during Trump’s presidency, are set to return on 1 April. The Distilled Spirits Council of the United States noted that when similar measures were enforced between 2018 and 2021, American whiskey exports to the EU declined by 20 per cent, slipping from $552 million to $440 million. Following their removal under President Biden in 2021, exports climbed by nearly 60 per cent to reach $699 million last year.

Chris Swonger, president and chief executive of the Distilled Spirits Council, urged Mr Trump to pursue a “zero-for-zero” tariff deal with the EU to bolster exports and protect jobs in America’s hospitality sector, adding: “We want toasts, not tariffs.”

Laurent Saint-Martin, France’s trade minister, criticised the renewed threat of a hike in duty as an unwelcome provocation. “France remains determined to respond with the European Commission and our partners. We will not give in to threats and will always protect our sectors,” he said.

European drinks companies felt the immediate impact on stock markets, with shares in Moët champagne owner LVMH declining by €8.90, or 1.47 per cent, to €603.10, while French distiller Rémy Cointreau slid by €1.70, or 3.6 per cent, to €45.38. Campari Group dropped by €0.24, or 4 per cent, to €5.79, and Pernod Ricard fell by €3.46, or 3.5 per cent, to €96.74.

Read more:
Trump threatens 200% tariffs on European wine over whiskey levy

0
FacebookTwitterGoogle +Pinterest
previous post
The Hitchhiker’s Guide to where we stand to avoid a government shutdown
next post
The Case for Repealing the Corporate SALT Deduction

You may also like

MuchBetter Review: The Top Choice for Multilingual Payment...

April 6, 2023

AdvanceTrack wins two-year High Court battle over competitor’s...

August 24, 2023

The Role of Negligence in Personal Injury Law:...

June 29, 2023

Royal Mail workers vote for further action ahead...

August 18, 2022

Huw Edwards: new tribunal ruling sheds light on...

August 2, 2024

How 5G Technology Is Changing Business Operations In...

December 13, 2024

Criminal barristers in England and Wales vote to...

August 22, 2022

How Knowledge Base Software Functions as Standard Operating...

February 3, 2025

New research highlights increasing threat of US-style litigation...

November 2, 2023

Code First Girls Teaches Tech Skills to Over...

June 20, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump turns to Supreme Court in fight to oust Biden-era consumer safety officials

      July 3, 2025
    • Bush teams up with notorious Trump foes to trash ‘colossal mistake’ shuttering USAID

      July 2, 2025
    • Trump’s ‘big, beautiful bill’ stalls in House amid conservative mutiny threats

      July 2, 2025
    • Democratic doctors’ protest against Trump’s ‘beautiful bill’ derailed by flood of US Capitol tourists

      July 2, 2025
    • Missed Disney’s Rally? Grab This Defined-Risk Put Spread for a Second Chance

      July 2, 2025
    • Market Signals Align – Is a Bigger Move Ahead?

      July 2, 2025

    Categories

    • Business (8,365)
    • Investing (2,094)
    • Politics (15,921)
    • Stocks (3,187)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved