European Union, Trump
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A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.
Back in May, the U.S. Court of International Trade ruled that Trump overstepped his bounds by using IEEPA to apply tariffs. Just a day later, the decision was paused and tariffs were back on. The lawsuit was brought by a wine importer called V.O.S. Selections and four other small businesses. Analysts expect the case to reach the Supreme Court.
Balancing economic interests and security concerns, European officials said they got the best deal possible with Trump, but critics said Brussels ceded to pressure.
WASHINGTON (AP) — President Donald Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned tariff on American whiskey.
France’s champagne and cognac makers are scrambling to secure an exemption from Donald Trump’s tariffs on EU imports to head off a crushing hit to sales.
Proposed global trade agreements could have consequential trickle-down effects on Napa Valley wine producers, according to industry experts.