• Veblen Wines Ltd

US tariffs on EU wines 'deplorable', says French drinks body president

Edith Hancock - Source: www.thedrinksbusiness.com

Drastic tariffs the US has threatened to place on French goods such as Champagne will cripple the nation's wine businesses, according to one industry leader, who has called on Emmanuel Macron to take "all the necessary initiatives" to stop their enforcement.

The US government has proposed tariffs of up to 100% on French goods, including sparkling wine, cheese and handbags, valued at US$2.4 billion in retaliation to a French tax placed on American tech companies.

The digital services tax, dubbed GAFA (which stands for ‘Google, Apple, Facebook and Amazon’), would impose a 3% levy on the total annual revenues of the largest global tech companies providing services in France.

But the Trump administration has hit back with its own retaliatory tariffs.

They warned they could introduce tariffs "up to 100%" on some products.

Read the full article at: https://www.thedrinksbusiness.com/2019/12/us-tariffs-on-eu-wines-deplorable-says-french-wine-body/