Newsletters
U.S. President Donald Trump on Tuesday threatened to impose a 200% tariff on $2.5 billion worth of French wine and champagne imports, following reports that French President Emmanuel Macron will not join a U.S.-led international peace board focused on the Gaza conflict.
"Did he say that?" Trump remarked when asked about Macron’s stance. "Well, nobody wants him because he’s going to be out of office very soon.
I’ll put a 200% tariff on his wines and champagnes, and he’ll join, but he doesn’t have to join," he added.
Wine represents one of the largest segments of French luxury exports, totaling $12.6 billion in 2024, with the U.S. as the top destination.
Citing concerns about the scope of the initiative, sources close to Macron told French broadcaster BFM TV that the French leader does not intend to accept the invitation to join the U.S.-led Board of Peace.
The sources reportedly noted that Macron believes the board could "go beyond Gaza" and undermine the established roles and principles of the United Nations.
Earlier this month, the White House announced the establishment of the Board of Peace as a key part of Trump’s Comprehensive Plan to End the Gaza Conflict.
According to official statements, the board is designed to "play an essential role in fulfilling" 20 core objectives, which include ending hostilities in Gaza, initiating reconstruction efforts, and supporting long-term development.
The message adds to a separate threat from Trump aimed at European countries opposing a potential U.S. acquisition of Greenland, a self-governing territory under Danish sovereignty.
Over the weekend, Trump stated that the U.S. would impose a 10% tariff on imports from eight EU countries, including France, starting February 1. He added that the rate would rise to 25% by June if the deal does not materialize.
In response to U.S. pressure, the EU is reportedly considering a retaliatory tariff package targeting €93 billion ($108 billion) worth of American goods.
European markets bore the brunt of the standoff, as the STOXX 600 slid 1.2% on Monday, marking its steepest one-day decline in two months. Losses were led by luxury, automobile, and technology stocks, which fell by 3%, 2.2%, and 2.9%, respectively.
Set as preferred source
2 min read
1 min read
