Trump threatened 200% tariffs on EU countries. What is the reason?
13 March 20:34
US President Donald Trump has threatened to impose 200% duties on all wines, champagne and alcohol from France and the EU if Brussels does not “immediately” cancel the duties imposed by the EU on American goods.
This was reported by The Telegraph, Komersant ukrainskyi reports.
In his post on Truth Social, Trump wrote:
“The European Union, one of the most hostile and abusive tax and tariff bodies in the world, which was created for the sole purpose of benefiting the United States, has just imposed a disgusting 50% tariff on whiskey.”
“If this tariff is not immediately canceled, the US will soon impose 200% duties on all wines, champagne and spirits originating in France and other EU countries. This will be a great decision for the wine and champagne business in the United States,” Trump added.
The publication notes that Trump’s son, Eric, is one of those who could potentially benefit from the introduction of tariffs, as he is the owner of Trump Winery in Charlottesville, Virginia.
The EU and Canada have announced tariffs on US goods, including bourbon whiskey, as “countermeasures” to Washington’s 25% tariffs on steel and aluminum, which came into effect on Wednesday. The tariffs are set to take effect on April 13.
Speaking shortly after Trump’s post on Truth Social, US Commerce Secretary Howard Luthnick told Bloomberg that the US is going to “teach the rest of the world respect” when it comes to trade.
U.S. stock indices declined in pre-market trading in New York, and shares of European alcoholic beverage producers fell after Trump’s statement.
Canada’s reaction:
Canada has announced that it is launching a formal appeal process in connection with the US imposition of 25% import duties on Canadian steel and aluminum, which violates its international obligations, said Canadian Minister of International Trade Mary Ing, Ukrinform reports .
“These unilateral tariffs violate the United States’ obligations under the World Trade Organization agreement and CUSMA (Canada-Mexico-United States Free Trade Agreement – ed.). Canada begins formal consultations with the United States on steel and aluminum tariffs. This is the first step in the WTO and CUSMA dispute settlement processes,” Ying said.
She added that Canada is “deeply disappointed by the U.S. decision to re-impose these unjustified tariffs that hurt workers and businesses in both countries.”
“Instead of erecting unjustified trade barriers, the U.S. should work with Canada as a reliable partner. Canada will always protect its interests, jobs, industry, and workers. We will continue to pursue all available avenues to challenge these unfair and damaging trade actions,” the minister said.
on March 12, the United States imposed 25 percent tariffs on imports of aluminum and steel from the EU. The European Commission announced the introduction of countermeasures that will be gradually introduced in April and will amount to 26 billion euros, which is equivalent to 28 billion dollars, which will cost European producers the US tariffs.
The annual trade volume between the EU and the US is the largest in the world and amounts to 1.7 trillion euros.
At the same time, European Council President Antonio Costa said that the EU wants to avoid a new “trade war” with the United States and is committed to finding a compromise at the negotiating table.
