Trump’s sweeping new tariffs send global stocks plunging as U.S. allies plan reaction
Among the latest round of sweeping reciprocal tariffs imposed by President Trump was also a 25% levy on all U.S. beer imports, affecting Mexican Corona, Dutch Heineken and Irish Guinness.
While industry experts were relieved that Trump’s threats of a 200% tariff on European alcohol did not materialize Thursday, along with 25% tariffs on Mexican tequila and Canadian whiskey, they warned that the tariffs will likely still hit sales among U.S. drinkers for European makers of wine and spirits, which amounted to 2.9 billion euros ($3.18 billion) of exports last year.
Italian trade association Federvini president Micaela Pallini warned Thursday that production of drinks like champagne and Scotch whisky cannot move from specific countries or…
