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Trump threatens 200% tariff on EU alcohol Imports

Trump threatens 200% tariffs on EU wines and spirits, escalating trade war and affecting European drink company shares.

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Trump threatens 200% tariffs on EU wines and spirits, escalating trade war and affecting European drink company shares.

In Short

President Trump has proposed a 200% tariff on EU alcohol imports in response to the EU’s 50% tariff on American whisky, heightening trade tensions. The ongoing conflict could affect over $10 billion in EU exports to the U.S., prompting potential retaliation from the EU.

President Trump has intensified his trade conflict with the European Union by announcing a potential 200% tariff on U.S. imports of wine, Champagne, and other alcoholic beverages from the EU.

This decision follows the EU’s imposition of a 50% tariff on American whisky. Trump emphasised this in a post on his Truth Social platform, indicating that the U.S. would respond strongly if the EU does not remove its tariffs.

The escalating exchange has led to declines in shares of European beverage companies, with the possibility that over $10 billion of EU exports to the U.S. could be impacted. In 2024, the U.S. had imported about $5.4 billion worth of wine from the EU.

French Trade Minister Laurent Saint-Martin condemned Trump’s actions, indicating that France, alongside the European Commission, is prepared to retaliate. Meanwhile, an EU spokesman noted that Brussels has been in contact with U.S. officials to discuss the tariffs.

The EU plans to impose its own tariffs on American products like whisky and motorcycles, aiming to counter the U.S. metal tariffs. The Distilled Spirits Council of the United States is advocating for a tariff-free trade agreement between the U.S. and the EU to benefit both economies.

The trade tensions have notably affected major players like LVMH and Pernod Ricard, with share prices declining amid the uncertainty. The situation remains fluid as both sides prepare for further discussions.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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US, Ukraine announce Black Sea truce amid conditions

US and Ukraine announce Black Sea truce, contingent on Kremlin’s sanctions relief conditions.

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US and Ukraine announce Black Sea truce, contingent on Kremlin’s sanctions relief conditions.

In Short

The US announced a ceasefire agreement between Russia and Ukraine in the Black Sea, contingent on Russia lifting certain sanctions.

Both sides have committed to observing the truce, yet achieving a complete ceasefire remains uncertain, with potential future concessions from Russia.

The United States announced that Russia and Ukraine have reached a ceasefire agreement in the Black Sea, conditioned on the removal of specific sanctions by the Kremlin.

The agreement emerged from three days of technical talks in Saudi Arabia, focusing on ensuring safe navigation in the Black Sea and preventing military use of commercial shipping. The US pledged assistance in restoring Russian access to global agricultural markets and reducing maritime insurance costs.

President Donald Trump noted that conditions from the Kremlin would be considered, particularly regarding sanctions on banks involved in agricultural exports. The truce would take effect upon lifting restrictions on the Russian Agricultural Bank and others, tying them to the SWIFT international payment system.

Ukrainian forces

Ukrainian President Volodymyr Zelenskiy announced an immediate observance of the truce by Ukrainian forces. The two sides also agreed on mechanisms to enforce a ban on attacks against energy infrastructure, effective for 30 days.

While the talks advanced some agreements, achieving a full ceasefire remains challenging, as Russia may seek to extract further concessions from the US.

Ukrainian Defense Minister Rustem Umerov expressed confidence in US support for compliance with the agreements. However, full ceasefire timelines proposed by the Trump administration appear overly ambitious to some officials.

Zelenskiy confirmed Ukraine’s commitment to a full ceasefire, highlighting the contrast between Ukraine’s intentions and Russia’s position.

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Trump’s team accidentally shared war plans with journalist

Trump’s team reviewed accidental disclosure of airstrike plans to journalist via Signal thread, sparking criticism and demands for investigation.

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Trump’s team reviewed accidental disclosure of airstrike plans to journalist via Signal thread, sparking criticism and demands for investigation.

In Short

The Trump administration is investigating how Jeffrey Goldberg of The Atlantic was mistakenly added to a group chat about U.S. airstrike plans in Yemen. The incident has drawn widespread criticism from both Democrats and Republicans for mishandling classified information and raised serious national security concerns.

The Trump administration is currently reviewing how Jeffrey Goldberg, editor-in-chief of The Atlantic, was inadvertently added to a Signal group chat discussing U.S. airstrike plans against Houthi militants in Yemen.

The National Security Council confirmed the authenticity of the message thread and announced an investigation into how Goldberg’s number was included. Goldberg initially expressed skepticism about the texts and considered the possibility of disinformation campaigns.

He received messages from high-ranking officials, including Vice President JD Vance and Secretary of Defense Pete Hegseth, later sharing some exchanges and screenshots in his article.

Left the group

Goldberg noted that he left the group after concluding the conversation was genuine. Within the discussion, a user identified as “JD Vance” raised concerns about the airstrike plans and their broader implications.

Following the article’s publication, Democratic lawmakers condemned the incident, calling it a serious national security breach. Criticism extended to the transmission of classified information through unsecured channels, with demands for investigations.

Even some Republicans criticized the administration’s handling of classified information. Amidst this, Trump stated he was unaware of the situation when questioned. The unfolding events highlight significant concerns about national security practices within the administration.

Democrats have likened the incident to amateurish behaviour, suggesting the need for tighter safeguards in handling sensitive information moving forward.

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Heathrow Airport could have avoided shutdown despite nearby fire

Heathrow Airport stayed operational post-fire, but faced extensive disruptions and criticism over crisis management and power dependency.

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Heathrow Airport should have stayed operational post-fire, but faced extensive disruptions and criticism over crisis management and power dependency.

In Short

Heathrow Airport could have stayed open despite a nearby electrical substation fire that caused 1,300 flight cancellations. Both Heathrow and the UK government have launched investigations, while airline stocks fell due to concerns over financial impacts.

Heathrow Airport may have remained open on Friday despite a fire at a nearby electrical substation, according to Britain’s National Grid.

The London airport had previously closed due to the fire affecting its power supply. National Grid’s CEO, John Pettigrew, stated that although one substation was damaged, two others provided sufficient power to ensure operations could continue.

Heathrow officials, however, argued that a safe restart of operations was not feasible after such a major disruption. They emphasised the complexity of the airport’s systems, which required careful management during the downtime.

Alternative options

Heathrow’s CEO, Thomas Woldbye, highlighted that while alternative substations existed, switching them on was time-consuming. He pointed out that the fire occurred outside of Heathrow’s control and required significant response efforts from the airport.

An internal investigation has been initiated by Heathrow, with the UK government also planning a separate inquiry into the incident. The disruption caused around 1,300 flight cancellations or diversions, leading to substantial financial implications for airlines.

In the aftermath, airline stocks faced a decline in value, reflecting investor concerns about the incident’s impact on travel and revenue. The International Air Transport Association criticized Heathrow’s emergency response, questioning the airport’s reliance on a single power source.

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