EU’s Wine, Whiskey, Cheese Facing Tariffs

European officials struck a measured tone on Friday after the United States imposed new 10 percent and 25 percent tariffs on some European Union goods.

German Finance Minister Olaf Scholz said European Union officials were working intensively to hammer out a broader trade deal with the U.S. and avert potentially far more devastating tariffs on European-built cars.

Asked about new U.S. tariffs on up to $7.5 billion worth of EU airplanes, cheese, wine and other imports, Scholz said he favored a “firm, clear and decisive” approach that did not further escalate the situation.

The actions include 25 percent duties on a wide swath of French wine, Scottish whiskeys and cheeses.

Source: Reuters