- President Donald Trump recently floated a tariff of as much as 100% on French wine, according to a report from Bloomberg.
- News of the remarks, reportedly made at a fundraiser on Long Island, New York, comes amid a dispute over a new French tax that affects major tech companies such as Google, Facebook, and Amazon.
- Trump has previously threatened taxes on French wine.
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President Donald Trump recently floated a tariff of as much as 100% on French wine, according to a report from Bloomberg’s Jennifer Jacobs and Jenny Leonard.
Citing two sources with knowledge of the president’s remarks at an August 9 business roundtable in the Hamptons on Long Island, New York, Bloomberg noted that the specific proposal might not be serious, though trade tensions between the US and France have been rising recently.
France recently approved a 3% tax on revenue of major multinational companies doing business in the country, including Facebook, Amazon, and Google. In July, the Trump administration opened an investigation into that tax that could result in retaliatory tariffs against France.
Trump has publicly ridiculed the new French tax in recent weeks. On July 26, he tweeted that his administration would “announce a substantial reciprocal action on Macron’s foolishness shortly.” He closed the tweet with a remark about the European country’s famous export: “I’ve always said American wine is better than French wine!”
In November, Trump took direct aim at what he viewed as unfair trade practices in the wine sector, tweeting: “France makes it very hard for the U.S. to sell its wines into France, and charges big Tariffs, whereas the U.S. makes it easy for French wines, and charges very small Tariffs. Not fair, must change!”
While Trump is widely reported to abstain from alcohol, his son Eric Trump owns and operates a vineyard and winery in Virginia.
The increased trade tension with France comes amid a larger trade war. Last week, China announced retaliatory measures against the latest round of US tariffs on goods from that country, contributing to broader fears about a possible slowdown in the US economy that sent stocks spiraling Wednesday before recovering later in the week.
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