Why Trump’s New Booze Tariffs Are Causing Sore Heads in Europe
President Trump is going after one of Europe’s main pressure points with his threat to impose a 200% tariff on the continent’s wines and spirits. France, the eurozone’s second-biggest economy, is the world’s largest wine exporter, followed by Italy and Spain. France’s most-valuable company, luxury giant LVMH, is a major producer of champagne and cognac, and the U.S. is among LVMH’s biggest markets, particularly for its Hennessy cognac.