Jon Bonné writes that Trump’s proposed 100 percent tariffs on French wine and cheese won’t help American wine producers nor harm French ones, while simultaneously hurting the American economy [ . . . ]
Read full story at CNN: Trump’s proposed wine tariffs will hurt Americans, not the French (opinion) – CNN
Industry groups are sounding the alarm on President Trump’s proposal to hit $2.4 billion in French goods with tariffs, warning that the latest trade salvo will affect a broad array of goods and its effects fall on U.S. consumers and small businesses.
The administration has proposed tariffs on a wide number of French products, including cheese, sparkling wine and Champagne, beauty products, handbags and home goods, in retaliation for a French tax on online services that targets American tech giants such as Google and Amazon.
Trade watchers warned the scope of the tariffs would be broad and lead to stark price hikes for consumers.
In 2018, the average tariff rate on French imports was 2.9 percent, according to the National Retail Federation (NRF). Under Trump’s tariffs, new taxes could be up to 100 percent for many goods. Continue reading “French wine, cheese targeted in latest Trump trade fight”
Trump used his first meeting at the summit to slam French President Emmanuel Macron.
Continue at WASHINGTON POST: NATO Summit: Trump slams Macron over NATO criticism – The Washington Post