Trump, tariff and trade agreement
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A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.
The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.
U.S. agreement, secured by President Donald Trump in Scotland, imposes a 15% tariff on most European goods but does not outline a tariff for the wine and spirits industry.
European Commission President Ursula von der Leyen said Sunday that a framework deal imposing 15% tariffs on EU goods imported to the U.S. did not contain any decision regarding the wine and spirits industry, adding that an agreement for the sector would be examined in the coming weeks.
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U.S. President Donald Trump will make his trade deal decisions this week even as separate negotiations with China and the European Union continue, U.S. Commerce chief Howard Lutnick said on Tuesday ahead of Trump's self-imposed Aug.