Tariff on alcohol
US President Donald Trump has threatened the European Union that the US will impose 200 per cent duty on liquor, wine and champagne imported from Europe if it is adamant on the proposed tariff on American whiskey. The European Union has announced a 50 % tariff on US whiskey following the trump announcement to impose duty on steel and aluminum imports. The European Union is going to implement this tariff from April 1. However, this move of the European Union to the US President has passed exasperated.
So the new trade war will sprinkle ..
Trump said in one of his social media posts that if the European Union rests on the announcement of the proposed 50 per cent tariff on the US whiskey, a new trade war would be sprinkled. Trump wrote in his post, “If this tariff is not removed immediately, the US will soon levy a 200 per cent fee on all wine, champagne and alcohol products coming from other countries of France and European Union.” He said it would be great for wine and champagne trade in the US.
Trump is not backing down
Republican Party leader Trump on Wednesday indicated that he intends to take action in the matter as well. Trump, in a discussion with reporters at his office at the Oval office, said on the move of the European Union, “Of course I will answer it.” Trump has been making announcements to impose more tariffs on countries like Canada, Mexico, China and India since again in January this year. He says that the US will now levy the fee equal to the fees levied by any other country. However, this has led to the chances of deepening trade war around the world. The reason for this is that the affected countries have also started announcing retaliation.
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