JAKARTA - US President Donald Trump said he would charge 200% of wine import rates for all wine and other alcoholic products from the European Union if the bloc did not remove its rates on whiskey.
The European Commission previously said it would impose retaliatory rates on US goods worth 26 billion euros ($28 billion) starting next month, which would increase global trade wars in response to a comprehensive US tariff on steel and aluminum.
However, EU executives say they remain open to negotiations and consider higher rates unfavorable to anyone.
"EU, one of the world's most hostile and abusive tax and tariff authorities, formed only for the purpose of taking advantage of the United States, has recently imposed a 50% unpleasant tariff for FIRE," Trump wrote on Truth Social.
"If this tariff is not lifted immediately, the US will soon impose a 200% tariff for all ANGGUR, SAMPANYE, & ALCOHOL PRODUCTS ORIGINATING FROM FRANCE AND OTHER COUNTRIES REPRESENTED BY THE EU. This would be great for the wine andCE business in the US," Trump wrote.
Shares of the US futures moved down and stocks of European alcoholic beverage producers fell.
The European Commission said it would end the current suspension of tariffs on US products on April 1 and the rates would take effect on April 13th.
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