Donald Trump threatens 200 % on alcohol imports in the European Union

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Donald Trump threatened a 200 percent revenge tariff for alcohol imports from the European Union if the bloc imposed a duty on whiskey, at the last Salvo in his escalating trade war.

After publishing it on the social truth platform on Thursday, the US President said that this step was in response to the European Union’s decision to impose a 50 percent “bad” tariff on the whiskey.

“If this customs tariff is not immediately removed, the United States will soon be a 200 % tariff for all wine, champagne and alcoholic products that come out of France and other countries represented in the European Union. Trump wrote that this would be great for wine and champagne companies in the United States.

The shares of drinks companies sank after Trump’s publication. Pernod Ricard decreased by 2.9 percent, LVMH decreased by 1.7 percent, and the UK included Diaageo decreased by 1.8 percent.

American stocks were opened at the bottom on Thursday, as the S&P Plue P500 futures tracked 0.3 percent and those that follow NASDAQ 100 by 0.5 percent.

Since its opening in January, Trump has imposed a series of escalation Definitions On the largest commercial partners in the United States. These chaotic fees, which were characterized by many sudden rotation, rocked companies and financial markets.

Earlier this week, the United States imposed a tariff of 25 percent on all imports of steel and aluminum, which increases many agreements for the country concluded by former President Joe Biden.

The European Union announced on Wednesday You will decrease Against metal definitions by applying duties of up to 50 percent to $ 28 billion in American commodities, including Bourbon Whisky, Jeans and Harley-Davidson Motordikes, as of April 1.

European Union officials said that they have intentionally targeted products in the states of Republican Senators in an attempt to strengthen the opposition between the legislators of Trump’s aggressive measures.