The European Commission is calling on President Trump to revoke tariffs now that he’s threatened a 200% tariff on European wine, Champagne and spirits if Europe goes forward with a planned tariff on American whiskey.
This just one example of tariffs that the president has implemented on foreign allies.
On Tuesday, U.S. Treasury Secretary Scott Bessent was asked about tariffs but pivoted to a looming government shutdown on Capitol Hill.
“I think we’ve had a big unwind and the tariffs, we’ve got strategic industries we’ve got to have, we want to protect the American worker that a lot of these trade deals haven’t been fair. But you know I can tell you what’s not good for the economy is this government shutdown. I don’t know what Democrats are thinking here because they’re going to own it,” Bessent said.
Bessent said that a government shutdown would hurt the confidence of the American people.
“The fact that the Democrats are in disarray, they’re flailing, and this is the best they can do, that I think this is the economic story for the next two days,” Bessent said.
