Source: CNN Business
“President Donald Trump on Thursday threatened to impose a massive tariff on European alcohol in response to the European Union’s retaliation against his steel and aluminum tariffs – a tit-for-tat escalation of a trade war that could easily get out of hand. In a post on Truth Social, Trump said his administration would impose a 200% tariff on alcoholic beverages from the EU unless it rescinds the 50% tariff the European government imposed Wednesday on US spirits. … After Trump’s 25% tariffs on aluminum and steel went into effect at midnight Wednesday morning, the EU immediately retaliated against what it called an ‘unjustified’ trade action from the Trump administration. The EU’s countermeasures included tariffs on €26 billion ($28 billion) worth of American goods, including tariffs on boats, bourbon and motorbikes. The measures, which are set to go into effect in April, are ‘swift and proportionate,’ the EU said in a statement.” (03/13/25)
https://www.cnn.com/2025/03/13/business/alcohol-tariffs-eu-trump-trade-war/index.html