Summary
Donald Trump announced a planned 200% tariff on French and EU alcoholic beverages in response to the European Union’s decision to reinstate tariffs on American whiskey.
Trump accused the EU of unfair trade practices and demanded an immediate reversal of its 50% whiskey tariff.
The EU’s move is part of broader retaliation against U.S. steel and aluminum tariffs.
The dispute has rattled liquor stocks, with major European brands like LVMH and Remy Cointreau dropping, while U.S. alcohol stocks, including Jack Daniels’ parent Brown-Forman, also declined.
Next, Trump signs an executive decree that says they can now make champagne in the US because the US had been treated very unfairly by France by not allowing champagne to be made elsewhere and now that the USA can do it, everyone is going to become very rich.
…or something.
I mean technically anyone can call it champagne. I believe the only law is in France itself or possibly the EU. But I’d be curious how enforceable it is outside of gentlemen’s agreements.