Goldman Sachs CEO David Solomon discusses the enterprise neighborhood’s ideas on President Donald Trump’s tariffs, help for small companies, deregulation of banks and making America the crypto capital of the world.
President Donald Trump on Thursday threatened to impose a 200% tariff on alcohol merchandise from France and different European nations.
The tariff menace comes after the European Union plans to maneuver forward with a deliberate tariff on American whiskey.
“If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES. This will be great for the Wine and Champagne businesses in the U.S.” Trump mentioned in a submit on Fact Social.
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The president’s menace comes after the European Fee on Wednesday mentioned it’ll impose counter tariffs on 26 billion euros ($28 billion) value of U.S. items exports in response to Trump’s 25% tariffs on metal and aluminum imports.
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President Donald Trump’s tariff menace comes after the European Union plans to maneuver forward with a deliberate tariff on American whiskey. (Picture by: Schooling Pictures/Common Pictures Group by way of Getty Pictures / Getty Pictures)
The countermeasures we take in the present day are sturdy however proportionate,” European Commission President Ursula von der Leyen said in a statement. “Our countermeasures shall be launched in two steps. Beginning with 1 April and totally in place as of 13 April. Within the meantime, we’ll all the time stay open to negotiation.”
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EU wine exports to the USA have been value 4.9 billion euros final 12 months, in accordance with EU statistics company Eurostat. That was 29% of EU’s general exports of wine. Of the EU exports to the USA, France made up virtually half and Italy virtually 40%.
Reuters contributed to this report.
