US President Donald Trump plans to overlap European alcohol with 200%duties, and not only him. The plans include auto industry, pharmaceuticals and copper industry.
European alcohol industry faces a blow of 13 billion euros due to new duties of Trump. He threatened enter them into wine, champagne and other alcoholic beverages from the European Union, if Brussels does not cancel the tax on American whiskey, quotes Trump Bloomberg.
The threats of the American president caused Fall of shares of European alcoholic companies. LVMH securities, the owner of Moët & Chandon and Veuve Clicquot, lost 2.2%, the manufacturer of Remy Cointreuu SA cognac – 4.5%, and Pernod Ricard – 3.6%.
American consumers have long been the main buyers of elite European wines and strong alcohol, and tariffs of this scale can make many imported goods excessively expensive.
The United States is the most important export direction for European alcohol producers: According to the Center for International Trade, in 2024 the United States was imported from EU alcoholic beverages and vinegar for the amount 13.1 billion euros. Of these, 5.2 billion euros falls on wine.
Sector of strong alcohol and liquor It is even more at risk: last year, products for 5.1 billion euros were sent to the United States – 22% of the total exports of this category.
The European beer exports to a lesser extent depending on demand in the United States: last year the EU sent a beer to 1.1 billion euros to the United States – about 12% of its total export.
In 2018, the EU initially introduced a 25%duty on American whiskey in response to US tariffs for European metalswhich led to a sharp reduction in exports of American whiskey to Europe.
Although the action of these tariffs was suspended In 2021, the United States recently decided to again introduce duties on European steel and aluminum, which prompted the EU Restore and double the tariffs for American whiskey up to 50%Starting from April 1, 2025.
Donald Trump also announced the new round of duties and can hit the European automobile industry, pharmaceuticals and the copper industry. Economists warn that further exacerbation of the trade war will hit markets: S&P 500 has already fallen by 10% from the February maximum.
Earlier, the chief economist of JPMorgan Chase Bruce Casman said that The probability of a recession in the United States in 2025 reached 40% due to Tarmp's policy.
Meanwhile, how reported Our publication, the EU from April 1 will introduce counter duties on American goods with a total value of 26 billion euros ($ 28 billion).
The European Union may introduce restrictions against large technicians from Silicon Valley if Donald Trump decides to introduce duties on European goods. This can also extend the trade conflict to the service sector.
US President Donald Trump announced his intentions to impose duties on products from European countries and repeated The call to the EU to buy more American oil and gas if he wants to avoid new tariffs.
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