French wine, cheese targeted in latest Trump trade fight

French wine tariff

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 could target French wine with tariffs

That bottle of French wine may be getting more expensive. 

That bottle of French wine may be getting more expensive.

President Trump said Monday that he plans to “do something” about the European Union tariffs imposed on American wine, saying the U.S. pays too much to export wine to France while the U.S. imposed low tariffs to import French wine.

“France charges us a lot for the wine. And yet we charge them very little for French wine,” the president told CNBC.com, adding that California winemakers have complained to him about the EU tariffs.

“So the wineries come to me and say…’Sir, we’re paying a lot of money to put our product into France, and you’re letting’ — meaning, this country is allowing — ‘these French wines, which are great wines, but we have great wines too — allowing it to come in for nothing. It’s not fair,”’ Trump said.

Source: Trump could target French wine with tariffs

To Burst The Bottle Bubble, Fountains In Paris Now Flow With Sparkling Water

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