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Trump threatens tariffs on European wine and spirits in escalating trade war

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
WASHINGTON (Reuters) -U.S. President Donald Trump on Thursday threatened to slap a 200% tariff on wine, cognac and other alcohol imports from Europe, opening a new front in a global trade war that has roiled financial markets and raised recession fears. Stocks fell on the news, as investors worried that Trump would enact stiffer trade barriers around the world's largest consumer market. "The Entire World is RIPPING US OFF!!!" Trump wrote on his Truth Social platform.
In a recent development, former President Donald Trump has threatened to impose a 200% tariff on French wine and other European goods in response to France's proposed digital services tax, which primarily targets U.S. tech giants like Google, Amazon, and Facebook. Trump's threat, made via a tweet, aims to protect American companies from what he perceives as unfair taxation by France. This move could significantly impact the wine industry, as the U.S. is a major importer of French wine. The proposed tariff is part of a broader trade dispute between the U.S. and the European Union, with potential repercussions for global trade relations.

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[ https://www.aol.com/news/trump-threatens-200-wine-tariff-121105111.html ]