Trump Switches his Attention Towards Eurozone, Again

The US-China trade war may not be heading anywhere lately, but in the meantime, Trump has once again shifted his focus on the Eurozone. In a series of tweets on Tuesday, Trump alleged that Europe is devaluing the Euro. According to Trump, “The Euro and other currencies are devalued against the dollar, putting the U.S. at a big disadvantage.”

In addition, a few days ago, Trump complained about the high tariffs France imposes on American wine. Following a visit to Normandy last week, Trump stated in an interview with CNBC, “France charges us a lot for the wine. And yet we charge them very little for French wine.”

This isn’t the first time that Trump has raised the issue of tariffs on wine – he had tweeted about French wine back in November 2018. The US imposes tariffs in the range of 5-14 cents per bottle of imported wine, while the EU’s tariffs on wine range between 11 cents and 29 cents per bottle.

The US remains the biggest market for EU wine producers while American wine only accounts for 16% of EU’s wine imports.