Trump threatens 200% tax on European wines over whiskey tariffs
On Thursday, U.S. President Donald Trump threatened to impose a 200% tax on all wines and other alcoholic beverages imported from Europe unless the European Union removes its planned 50% tariff on American whiskey, according to Reuters.
This is part of a broader tax package, worth 26 billion euros, announced by the European Commission, which is set to come into effect next month. The EU’s decision follows Washington’s imposition of tariffs on European steel and aluminum imports.
"The European Union, one of the most hostile and abusive tax and tariff authorities in the world, has imposed a 50% tariff on whiskey. If it is not removed immediately, the U.S. will impose a 200% tax on European wines and other alcoholic beverages," Trump wrote on Truth Social.
Last year, European wine exports to the United States totaled 4.9 billion euros, representing 29% of the EU's total exports in this sector, according to Eurostat. France and Italy are the largest wine exporters to the U.S., accounting for nearly 90% of European wine deliveries.
Trump's response had an impact on financial markets. Following the announcement, shares of European spirits producers dropped. The European Commission did not immediately comment on the U.S. President’s post, but it had previously stated that it remains open to negotiations, emphasizing that high tariffs are not in anyone’s best interest.
Translation by Iurie Tataru
