Thu, 20 Mar 2025

Thu, 20 Mar 2025 EU delays plans to retaliate against Trump tariffs

Its tit-for-tat tariffs had prompted Trump to threaten a 200% tariff on European alcohol and wine.
The European Union (EU) has put off plans to impose tariffs on US products, including whiskey, until mid-April. This decision comes after the US threatened to respond with its own tariffs on EU alcohol imports. The move gives both sides more time for discussions and could potentially calm tensions in the trade dispute. Initially, the EU had planned to introduce two phases of duties starting from April 1st and 13th. However, officials have delayed the first phase until 13 April, while still maintaining that the tariffs will have a significant impact. The EU spokesperson stated that they are ready for constructive dialogue with the US to find a solution that avoids unnecessary harm to both economies. The delay has been welcomed by the Distilled Spirits Council president Chris Swonger, who represents US alcohol-makers in the US. He expressed hope that a 50% tariff on American whiskey can be avoided and called for an agreement that would preserve "zero-for-zero" tariffs for the spirits trade. Meanwhile, the White House is preparing to announce another round of tariffs on countries around the world, including the EU. The exact details are unclear, but Trump has suggested targeting European products with a 25% tariff. The dispute comes as the US president attempts to reduce America's reliance on imports of vital materials such as steel and aluminium.
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