Investing.com -- U.S. President Donald Trump addressed the newly implemented tariffs on American goods by the European Union in a post on Truth Social on Thursday morning. The European Union, described by Trump as one of the most antagonistic taxing and tariffing authorities globally, recently imposed a significant 50% tariff on whisky.

In response to this action, Trump issued a warning that if the tariff isn’t promptly lifted, the U.S. will retaliate by imposing a hefty 200% tariff on all wines, champagnes, and alcoholic products originating from France and other countries represented by the EU. According to the President, such a move could potentially benefit the domestic wine and champagne industries in the U.S.

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