Post by Catherine Schmidt - ourselves.space

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#Economy #trump #regime #depression #alt #ALT4you
Heather Cox Richardson Trump Crushing U.S. Wine Industry

In the wake of the dropping markets, Trump announced on his social media platform today that if the European Union did not drop its 50% tariff on whiskey, imposed as retaliation for Trump’s tariffs on aluminum and steel, he would impose a 200% tariff on all "WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES.” He added: “This will be great for the Wine and Champagne businesses in the U.S."

In fact, journalist Dave Infante, who covers drinking in America at Fingers, noted that while it seems counterintuitive, such a tariff would “crush the US wine industry. Booze gets to market on distributors' trucks,” he posted. “These fleets need volume to run efficiently. Subtract EU wine from the equation & it no longer pencils out. Any gains from less competition would likely be paid back out in margin loss.”

Kai Ryssdal of the radio show Marketplace posted: “I'm honestly running out of words | can use on the air to describe what's happening in and to this economy.”

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