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Following negotiations between French President Emanuel Macron and US President Donald Trump, the threat of 100 per cent punitive tariffs against European wine producers has been suspended for one year.
Trump had threatened the tariffs after France decided to introduce a digital tax of three percent on the profits of American digital corporations such as Google, Apple, Facebook and Amazon. Macron personally negotiated the tariff dispute with Trump at the Libya summit in Berlin a few days ago. Now both governments want to reach a joint solution by the end of 2020. During this time, the tariffs are not to be introduced.
Oh, the export-oriented German vintners would have been strongly affected by the luxury tariffs. The Trump administration wanted to impose the high tariffs on wines from France, Germany, Spain and the UK. Italy was not affected, nor were champagne and sparkling wines. The US is also threatening to tax spirits from Germany, Ireland, Spain, the UK and Scotland by a further 25 per cent.
(uka)