Summary
Donald Trump announced a planned 200% tariff on French and EU alcoholic beverages in response to the European Union’s decision to reinstate tariffs on American whiskey.
Trump accused the EU of unfair trade practices and demanded an immediate reversal of its 50% whiskey tariff.
The EU’s move is part of broader retaliation against U.S. steel and aluminum tariffs.
The dispute has rattled liquor stocks, with major European brands like LVMH and Remy Cointreau dropping, while U.S. alcohol stocks, including Jack Daniels’ parent Brown-Forman, also declined.
Took his sweet time to realize he could put +100% tariffs.
It’s fine tho, we’ll sell our high quality liquors to other markets. See? The problem with putting tariffs to the whole world is that the whole world answers in kind. But only against you, wno started the tariffs. We can sell our liquors to Asia, to Canada or to Australia just fine. But your whiskey is right now nuclear waste; nobody wants it.
I wish more people would understand this perspective. Americans might be picking a fight with the whole world, but the rest of the world only has to worry about 1 country picking a fight with them.
And the world restructures its trading away from the US; they come out fine eventually but the US loses money and influence.
I read somewhere that the US president can only impose tariffs of up to 25% unilaterally and that anything higher requires congressional approval.
Could be that when it’s considered ‘retaliation’ that changes the rules.
Laws are only as effective as their enforcement, which means the US president can currently do pretty much whatever the fuck he wants to.