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Trump threatens tariffs on French wine

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Trump threatens tariffs on French wine

Trump threatens tariffs on French wine

U.S. President Donald Trump said that the U.S. could impose tariffs on French wines in a live phone interview with CNBC.

Francis Maguire reports.

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Trump threatens tariffs on French wine

Tariffs are a weapon of choice for Donald Trump.

Now he's aimed at French wine.

Speaking to CNBC this week, Trump claimed France charges 'a lot' for American winemakers to sell their goods, While the U.S. charges less.

Quote: "we'll do something about it," he said.

Trump's threat is part of his wider challenge to the EU - of which France is a key member.

The U.S. put tariffs on European steel and aluminium last year, And he's also taken aim at Germany's carmakers - threatening duties on them too.

It's moves like this - and the trade war with China that's hit global growth - that have many businesses worried.

(SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "We Germans as an export nation are caught in-between and we will get hurt with a weak world economy which in an extreme situation could lead into a recession.

Right now we need someone with wisdom but on a political level, I don't see anyone in Washington or Beijing." The EU adds a tax between 11 to 29 cents to every 750ml bottle of U.S. wine, according to the California-based Wine Institute.

The U.S. charges 5 cents.

Whether that changes or not - it's likely not the last of Trump's tariff threats.



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