Trump's threat to impose 200% tariff on EU & French Liquor : Does this heralds the end of Globalization?
By Ptrikha_2
@ptrikha_2 (47589)
India
March 16, 2025 8:48am CST
If the implemented major Trade tariffs on Canada, Mexico and China and intended ones on India and a few more were not enough, Donald Trump has threatened a mind boggling 200% tariffs on French Champagne and other liquor from Europe.
This move seems to have come after EU action of reinstating 50% tariff on Whiskey imported from US.
This was done in retaliation of Steel and Aluminum tariffs imposed recently by US.
As per American Commerce Secretary Howard Lutnick, Trump was “totally annoyed” by the EU’s actions, leading to the latest threat.
Now, one can see the full impact of Newton's law of action & opposing equal reaction in full flow.
Yet, with such measures, I feel that the unifying edifice of what we know as Globalization and the common world market would soon begin to unravel.
For sure, this would have adverse side effects although some folks might say that we could also see a few positives.
What do you say?
Here is the full news article :
Image : From Pixabay
https://pixabay.com/photos/wine-bar-alcohol-liquor-drinks-8346641/
https://www.cnbc.com/2025/03/13/trump-threatens-to-put-200percent-tariff-on-french-champagne-and-other-eu-spirits.html
2 people like this
2 responses
@RevivedWarrior (3749)
• India
17 Mar
These Trade wars often spiral into cycles of retaliation between most countries, making global markets unstable. Tariffs can protect domestic industries but also raise costs for consumers and businesses. The U.S. and EU imposing such steep duties on each other’s goods will likely strain economic and political relations further. Some argue that these measures encourage self-reliance, but then they can also disrupt supply chains and hurt trade-dependent industries. Globalization has its flaws, but dismantling it abruptly could create more harm than good. A recession is just more than a possibility and it can be horror in current global situation. Instead of punitive tariffs, diplomatic negotiations might be a better solution. A balanced approach could prevent economic fragmentation while still addressing trade imbalances. Hopefully those in power will have proper senses and get to negotiation table as quickly as possible.
2 people like this
@ptrikha_2 (47589)
• India
17 Mar
@RevivedWarrior
A balanced approach would have been better but Donald Trump is adamant on his current approach and EU is also responding accordingly.
Global supply chains and trade would see a lot of turbulence in the next one year.
2 people like this
