The trade war between the United States and the European Union has just crossed a new course. President Donald Trump is threatening a 200 % tax on wines, champagnes and other European alcohols. A reprisal measure that responds to Brussels’s decision to establish customs duties of 50 % on American whiskey, in reaction to American surcharges on imported steel and aluminum.
A blow for European producers
Donald Trump's announcement was made through his social social network, where he described the European Union as “hostile and abusive block” and required the immediate abolition of European taxes on American whiskey. Otherwise, He promises to hit European exports of wines and spirits a 200 %tax.
The European Union exports each year more than 4.5 billion euros in wines to the United Statesits largest international market. France is particularly concerned: in 2024, it sent for 2.3 billion euros in wines and 1.5 billion euros in spirits in the United States.
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According to Gabriel Picard, president of the French Federation of Exporters of Wine and Spirits, “” A 200 % tax would mean total export stop to the United States »». He estimates that this decision would represent a loss of 4 billion euros for the French trade balance.
IGNACIO Sánchez REDARTE, secretary general of the European Committee for Entreprises Wines, adds in this direction, ” If Donald Trump makes his threat, the American market will collapse, resulting in the abolition of thousands of jobs in Europe. »»
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A global economic impact
The repercussions of this trade war are not limited to the wine sector. The financial markets reacted negativelythe actions of Pernod Ricard and LVMH, producer of Cognac Hennessy, lost 4 % and 1.1 % respectively since the announcement.
In the United States, European importers and distributors are worried. Mary Taylor, American importer, warn that this tax would be ” catastrophic »For his activity.
“With a surcharge of 200 %, an Italian prosecco sold at $ 15 could reach $ 45. Who will still want to buy it? ».
Faced with this escalation, Brussels called for dialogue. Ursula von der Leyen, president of the European Commission, said that ” Prices are taxes harmful to businesses and consumers “And added that” The EU is open to negotiations ».
However, European authorities have warned that they would not give in to threats. Laurent Saint-Martin, French Minister of Foreign Trade, replica:
“We will not be intimidated. We will protect our industries ”.
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Despite the tensions, Analysts believe that a diplomatic solution remains possible. A compromise could go through a reciprocal suppression of surcharges on wines and spirits, as had been the case in 2021 when the EU and the United States had reached an agreement on taxes related to the conflict between Airbus and Boeing.
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Maxime discovered the world of finance and very young investment before launching from the age of 18 years. His passion for financial assets and new opportunities offers him a good vision of the current economy as well as emerging trends.
Maxime Montlet
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