EU caves to pressure from Trump and wont put tariffs on Jack Daniels, Makers Mark

The European Union caved to intense pressure from President Trump over tariffs on American-made bourbon and whiskey by exempting the spirits from the list of US imports slated to be hit by new retaliatory taxes.US bourbons like Maker’s Mark and Jack Daniels whiskey were initially in the EU crosshairs, but member nations including France, Italy and Ireland successfully pushed for their removal to safeguard their own popular alcohol exports.President Trump had threatened a 200% tariff on European alcohol imports if bourbon and whiskey were included in the new tariffs passed by Brussels on Wednesday, which were in response to a 25% duty on American steel and aluminum, as well as the 20% reciprocal tariff that was part of the administration’s “Liberation Day” rollout.“We are not in the business of tit-for-tat or penny for penny,” said Maroš Šefčovič, EU trade commissioner, indicating the EU’s strategic approach.A revised list obtained from the EU now shows tariffs ranging from 10% to 25% on various products, including poultry, orange juice, and soybeans.These tariffs will go into effect at different intervals between April 15 and Dec.1.Notably, soybeans and almonds have been postponed until December following protests from European farmers reliant on American soybean imports for animal feed.The original EU proposal would have targeted approximately $28 billion in US goods.However, the final measures approved are expected to cover about $23 billion.EU Commission President Ursula von der Leyen expressed continued openness to negotiations, emphasizing that Europe remains ready to eliminate tariffs on industrial goods, particularly automobiles.“Europe is always ready for a good deal, so we keep it on the table,” she stated.Germany’s Economy Minister Robert Habeck aired his frustration with the individual lobbying efforts by member states, urging unity and caution in addressing the escalating trade conflict.“The stock markets are already collapsin...