President Trump says he'll slap 200% tariffs on wine and other alcohol from Europe if the European Union doesn't nix a planned 50% retaliatory tariff on American whiskey. The EU announced counter tariffs on Wednesday on $28 billion worth of US goods in response to Trump's "unjustified" 25% tariffs on steel and aluminum imports. The counter tariffs cover steel and aluminum products, textiles, home appliances, plastics, wood, poultry, beef, eggs, and yes, bourbon. Writing Thursday on Truth Social, Trump specifically complained about the tariff on whiskey. He said the US would put a 200% tariff on wine and other alcohol imported from Europe "if this tariff is not removed immediately."
The EU exported about $5.3 billion in wine to the US last year, making up 29% of overall wine exports, per Reuters. Nearly half of that came from France, and nearly 40% from Italy. Thursday's threat "shows how trade wars can quickly spiral out of control," per CNN. It also indicates the president has no plans to stop wielding tariff threats "despite protests from economists and businesses groups alike," per NBC News. While some economists say Trump's tariffs will boost US industry, many others say they'll increase inflation, slow economic growth, and hurt American workers. European Commission President Ursula von der Leyen alluded to this, saying, "Jobs are at stake. Prices will go up. In Europe and in the United States."
Trump previously claimed the tariffs would create US factory jobs. On Thursday, he said the threatened tariffs on EU alcohol "will be great for the Wine and Champagne businesses in the U.S." Commerce Secretary Howard Lutnick said Trump was "totally annoyed" with the EU's retaliatory move. "Why are Europeans picking on Kentucky bourbon secretary, Harley-Davidson motorcycle? It's disrespectful," he told Bloomberg Television on Thursday morning, per NBC. Trump later wrote, "The U.S. doesn't have Free Trade. We have 'Stupid Trade.' The Entire World is RIPPING US OFF!!!" (More tariffs stories.)
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