The European Union has responded to new US tariffs on metal and aluminum imports by saying a 50 % tariff on American whiskey and different US items.
In retaliation, Trump threatened a 200 % tariff on EU alcohol exports, together with wines and French champagnes, until the EU withdraws its countermeasures.
The California wine trade is especially involved about these developments, because the proposed tariffs might make European wines prohibitively costly within the US, probably benefiting home producers but in addition disrupting current market dynamics, in response to the San Francisco Chronicle.
Earlier within the week, as per The Guardian, Trump threatened to double tariffs on Canadian metal and aluminum imports to 50 %, responding to Ontario’s determination to impose a 25 % surcharge on electrical energy exports to the US.
New York Put up experiences that this escalation contributed to a major downturn within the inventory market, with the Dow Jones Industrial Common falling practically 600 factors earlier than closing down 478.23 factors (1.1 %) on Tuesday.
