Trump Plans 200% Tariff on French Champagne Over Whiskey Dispute

Benzinga

President Donald Trump announced plans Thursday to impose a 200% tariff on  French champagne and alcohol from European nations, according to CNBC. The move is a response to the European Union's decision to reinstate a 50% tariff on American whiskey.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Donald Trump announced plans Thursday to impose a 200% tariff on French champagne

00:06and alcohol from European nations, according to CNBC.

00:10Move is a response to European Union's decision to reinstate a 50% tariff on American whiskey.

00:16Trump criticized the EU as hostile and abusive,

00:18stating that the move would benefit U.S. wine and champagne producers.

00:22European Commission said its measures are a response to U.S. steel and aluminum tariffs.

00:26The announcement pressured European liquor stocks, while U.S. alcohol stocks also declined.

00:31For all things money, visit Benzinga.com slash GSTV.

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