Trump, European Union and trade deal
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A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.
The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.
BRUSSELS - The tariff-and-spending accord announced Sunday by the United States and the European Union stands to avert a damaging trade war between two of the world’s largest economies, but it is lopsided in favor of President Donald Trump’s protectionist policies,
European Commission President Ursula von der Leyen said Sunday that a framework deal imposing 15% tariffs on EU goods imported to the U.S. did not contain any decision regarding the wine and spirits industry, adding that an agreement for the sector would be examined in the coming weeks.