When US President Donald J. Trump campaigned on putting ‘America First’, that meant many different policies in different areas.
When it comes to foreign trade, Trump promised to tackle the ‘abuse’ imposed by many ‘allies’ who exploit the US consumer market while closing the doors to their own markets.
Tariffs were widely announced.
Yesterday (12), Trump directed his administration to increase tariffs on all European Union steel and aluminum imports to 25%.
This prompted the EU to retaliate against a number of US products, including whisky and bourbon. Tariffs on U.S.-made whiskey to 50%
So, today, in a Truth Social post, Trump described the EU as ‘one of the most hostile and abusive taxing and tariffing authorities in the world’, and announced retaliation against the European Union’s alcohol beverages including wines and Champaigne.
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% Tariff on Whisky. If this Tariff is not removed immediately, 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.
CBS News reported:
“President Trump on Thursday threatened to impose tariffs on wines, Champagnes and other alcoholic products imported to the U.S. from France and other European countries in response to raised tariffs the European Union placed on American whiskey.
[…] European Commission President Ursula von der Leyen said in a statement Wednesday that the countermeasures from the EU are worth 26 billion euros, or $28 billion. The tariffs, set to take effect April 1, target a range of U.S. exports, including beef, poultry, bourbon, jeans and peanut butter.
‘We deeply regret this measure’, von der Leyen said. ‘Tariffs are taxes. They are bad for business, and worse for consumers. They are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake. Prices will go up’.”
Commerce Secretary Howard Lutnick:
“[…] Trump’s economic policies are ‘the most important thing America has ever had’, [and] when asked whether they would be worth it if they lead to a recession. ‘It’s worth it’.
Lutnick added, ‘The only reason there could possibly be a recession is because the Biden nonsense that we had to live with. These policies [tariffs] produce revenues. They produce growth. They produce factories being built here’.”
Read more:
First, World Leaders Complain, Then They Do What Trump Wants
