Good news: Those supposed 100 percent tariffs on Champagne are gone.
Bad news? We may be back in this same position in a year.
According to The Drinks Business, a French diplomatic source has informed media outlets that tariffs between the United States and France will be put on hold for a year. A tweet by French President Emmanuel Macron — and an “excellent” response by President Trump, because I guess this is how we do things now — seems to confirm the news.
Great discussion with @realDonaldTrump on digital tax. We will work together on a good agreement to avoid tariff escalation.
— Emmanuel Macron (@EmmanuelMacron) January 20, 2020
— Donald J. Trump (@realDonaldTrump) January 21, 2020
The original tariffs came about due as a response by the U.S. to a 3% tax on large technology companies providing services to French consumers.
Unfortunately, this handshake agreement — and yes, nothing is official — doesn’t appear to alter the previously-announced 25 percent tariff on single malts (and EU wines and other goods) that have been part of other recent tariff threats. You can read more about how those tariffs might hurt the burgeoning natural wine movement in America here.
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