Trump threatens 200% price on wine and EU alcohol, says that the world “ torn us ''

President Donald Trump threatened on 200% of European Union rates on Thursday in response to the 50% rate of the region in the American whiskey, increasing tensions between two long -standing business partners.

Trump has also sharpened his rhetoric towards the EU, which has been one of the nearest American allies for decades.

“The European Union, one of the most hostile and abusive and price authorities in the world, which has been formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% tariff on whiskey,” Trump wrote on Truth Social. “If this price is not immediately removed, the United States will soon place a 200% rate on all wines, champagnes and alcoholic products leaving France and other countries represented by the EU. It will be great for wine and champagne companies in the United States”

A spokesman for the European Commission said that the Minister of Commerce in the Region had already contacted his American counterparts and that calls were being prepared.

Later Thursday morning, Trump posted: “The United States does not have free trade. We have” stupid business “. The whole world snatches us !!!”

After a few precocious gyages Thursday morning, the main American stock market indices settled firmly in the red, the S&P 500 approaching the correction territory, almost 10% down compared to its top of all time in February. The NASDAQ technology index fell 1.4%, now down more than 14%, in February.

The United States remains the largest world importer in wine and champagne, the first including $ 4.9 billion in annual sales and second more than $ 1.7 billion. Meanwhile, American wine exports ranked fifth among all nations at around 1 billion dollars, while its exports of champagne and sparkling wine total only $ 67 million, 12th in the world.

The impact of Tit-For-Tat prices could weigh heavily on American consumers, who depend on the import of goods, that manufacturers of them.

In a press release, the distilled council of spirits of the United States, which here represents the manufacturers of alcohols, called on the president to reach an agreement with the EU on the dead end, noting that none of the liqueurs of the region was subject to prices for several decades.

“We urge President Trump to obtain an agreement with the spirits with the EU to bring us back to zero prices, which will create American jobs and increase the manufacture and exports of the US hotel sector. We want toast and not prices, said Chris Swonger, president and CEO of the distilled council.

Trump was pricing threats to American partners from American partners a fundamental practice of his second administration at the start. The last stolen shows that he does not intend to do so despite the protests of economists and groups of companies concerning the repercussions of such a policy. On Wednesday, the largest regime of the most important prices targeting all steel and aluminum imports in the United States has entered into force. In response, the EU and Canada have announced that they would impose reprisal tasks on the products made in the United States.

The president has repeatedly suggested that the major trade deficit of the United States with the rest of the world is a sign of weakness. Trump has recognized that his pricing strategy could lead to a period of “transition” for the American economy, which has shown signs of vacation in recent weeks, but that it ultimately emerges stronger.

Thursday morning, the secretary of commerce, Howard Lunick, added an additional context to the last Barb of Trump and the EU specifically targeting the products of the States with strong support from Trump.

“The president was completely bored that the Europeans did this, and therefore you will hear from someone who cares emotionally about America,” he said on television Bloomberg. “He cares about America, and he wants to take care of the Americans. And why are Europeans picking the secretary of Kentucky Bourbon, Harley Davidson Motorcycle?

Lutnick added that Trump was trying to “balance” trade relations with the EU

“We are your most important and most important trading partner. Treat us with respect and can find a little balance,” he said.

Ernst BSCHER, spokesperson for the German Wine Institute, said in an interview that a 200% would be a “disaster”, noting that the United States is the most important export market for German winegrowers, representing approximately a sixth export.

He added that when a 25% rate was placed on German wines during the first Trump administration, importers and winegrowers shared this cost to protect us / Consumers from prices, but this would probably not be possible with a 200% rate.

The Minister of the French Trade, Laurent Saint-Martin, said in a statement on Thursday that Trump “degenerated the trade war he had chosen to launch”.

“France remains determined to retaliate with the European Commission and our partners,” he said. “We will not give in to threats and will always protect our industries.

Until now, the reaction of the market as Trump approaches has been largely negative. The main stock market indices have now erased their post-electoral gains, while investors rebel against higher cost prospect. Thursday, stock contracts immediately dropped in response to Trump's last announcement, although Paed losses somewhat after a favorable inflation report.

Most academics say that the ability of American consumers and companies to import goods leads mainly to a higher standard of living and more efficient production for businesses.

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