(AURN News) — President Donald Trump threatened Thursday to impose 200 percent tariffs on European wine imports in response to what he described as a 50 percent European Union tariff on whisky.
“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,” Trump wrote on his Truth Social platform. “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.”
The president added, “This will be great for the Wine and Champagne businesses in the U.S.”
In a separate post later Thursday, Mr. Trump wrote: “The U.S. doesn’t have Free Trade. We have ‘Stupid Trade.’ The Entire World is RIPPING US OFF!!!”
Financial markets reacted negatively to the tariff threats, with stocks falling significantly Thursday afternoon amid concerns about the potential for escalating trade tensions.
The back-and-forth tariff proposals from the president mark the latest chapter in ongoing trade disputes between the United States and various countries during the first few months of Trump’s presidency.
Click play to listen to the AURN News report from Jamie Jackson:
