Cognac Takes A Hit In Europe-USA Trade War

The USA will impose new import taxes on some French cognacs as part of a long-running trade dispute that initially began over subsidies for aircraft manufacturers Airbus and Boeing 16 years ago.

The latest retaliation will have the USA imposing new tariffs on “certain cognac and other grape brandies from France and Germany”.

The USA said they were taking the tariff action because they claimed the EU imposed tariffs on American goods with inflated and non-relevant trade data when volumes had been affected by the Covid-19 coronavirus.

Joe Biden will be sworn in as the new USA president on January 20, 2021, and is expected to bring a different approach to the trade negotiations.