For voters and supporters of President Donald Trump, his no-nonsense approach to putting America first has been a breath of fresh air.
Everyone else, meanwhile, appears to be simply be holding their breaths.
That’s because, in keeping with his past presidential promises, Trump has been aggressively putting American interests first and foremost — primarily with his use of tariffs.
While everyone in the media is focused on Trump’s more domestic squabbles (like, for instance, how Canada folded like a cheap lawn chair after Trump threatened their tariffs with tariffs), the president is also keeping tabs on things abroad.
And he’s none too pleased with what he’s seeing.
Trump took to Truth Social early Thursday, lambasting the European Union for what he called “hostile and abusive” behavior — and how he’s going to hit them where it hurts.
“The European Union, one of the most hostile and abusive taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% Tariff on Whisky,” Trump posted. “If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES.”
The president added: “This will be great for the Wine and Champagne businesses in the U.S.”
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And while the establishment media may want you to believe that Trump’s bluster is little more than hot air, his Truth “bombs” are having a very tangible effect in the real world.
As Sky News noted, “Financial markets were quick to react to the latest escalation, with EU stock markets sinking across the board.”
Sky continued: “The declines were led by drinks manufacturers.
“Pernod Ricard on the CAC in Paris, for example, was more than 3.5 percent lower in the moments after Mr Trump’s post was published.
“The FTSE 100 was also in negative territory.”
Interestingly, the company behind the popular Guinness line of beers was hit the least: “Diageo, which counts Irish-made favourite Guinness among its stable of brands, was only 0.1 percent down.”
Additionally, “United Nations data shows that EU nations export alcoholic drinks worth more than $11bn per year to the United States, with wine accounting for half that sum.”
Curiously, Sky News noted that certain countries, like Spain, France and Italy, have been urging the EU not to include wines and spirits as part of this escalating tariff war.
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