BREAKING BRITANNIA NEWS
France and the United States have been embroiled in an ongoing trade war that’s now threatening to cripple the French wine industry. US President Donald Trump struck Paris with a string of 25 percent duties on chosen French wine in reaction to unfair support to Airbus as well as to protest a proposed digital levy on US firms. But despite a clear defusion of tension between France and the US last year, the US President has kept to his threat on quadruple tariffs on imports unless Emmanuel Macron withdraws plans to place a new digital tax against US tech giants.
French winemakers are in a panic with Languedoc Wine Association President Miren De Lorgeril declaring that the sector”wouldn’t cope” with further tariffs.
Speaking to France 24, Ms de Lorgeril stated:”Those 25 percentage tariffs are already unacceptable.
“We can not cope with something like that in the future because it affects a major portion of our exports.
Donald Trump slapped a 25 percent tariff on EU wines in October 2019 in response to Airbus subsidies and is threatening to quadruple tariffs to 100 percent on most wines.
The US President has threatened to place a 100 percent import duty on champagne as well as other products unless Macron pulls his digital tax on US companies.
Winemaker Gerard Bertrand declared a swathe of tariffs would have serious consequences on the sector as a whole.
Mr Bertrand said:”We hope it doesn’t last a long time since if the prices of our goods are raised too much, obviously, we will lose our market share.
“What is most worrying is the fact that there is no visibility for the coming months.”
French Economy Minister Bruno Le Maire said there would”only be losers” in a US-EU trade warfare.
Mr Le Maire vowed a”powerful, coordinated and combined response in the EU” should President Trump proceed with his tariff threats.
The US leader denounced the digital taxation signaled by Emmanuel Macron, who targeted American companies and has long claimed US tech giants are avoiding traditional levies in their profits, as discriminatory.
In reaction, Washington drew up an inventory of French products worth £1.8 billion which may face tariffs of up to 100 percent.
Culturally products, such as purses and decorative, Champagne, and Roquefort cheese from French luxury brands, are included in the list.
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