We do not like tariffs because we believe that tariffs are taxes and that is bad for businesses and that is bad for consumers, said von der Leyen to reporters in South Africa after a meeting with President Cyril Ramaphosa.
We have always said that we will defend our interests, but at the same time, I also want to emphasize that we are open to negotiations, continued von der Leyen, and added that the EU's trade commissioner had been in contact with his counterpart in the USA and "that they are expected to have a phone call on Friday regarding the tariff issue".
According to AP, Trump says in a comment that he "will not back down at all".
Exploiting the USA
Trump's threats will become a reality if the EU's announced 50-percent tariffs on American whiskey – a response to increased American tariffs on steel and aluminum – are not withdrawn, he writes on the platform Truth Social.
In the post, the President calls the EU "one of the world's most hostile and brutal tax and tariff authorities" and repeats his claim that the EU was created "solely to take advantage of the USA".
He also writes that the 200-percent punitive tariffs "will be fantastic" for what he calls "wine and champagne companies" in the USA.
Strange Situation
It's fortunate that there are other markets to sell to. It's an incredibly strange global situation where the leader of one of the largest free countries acts in this way, says Minister for Business Ebba Busch (KD) about the threat.
Sweden and the USA have long been united in fundamental values but are now moving in different directions when it comes to openness to the world and faith in trade, she continues.
Several European wine and spirits manufacturers' shares fall after Trump's outburst. Among these are LVMH (which owns several champagne and cognac brands) and Pernod Ricard (which, among other things, owns Absolut Vodka).
