With Iran war cooling, Trump is refocusing on tariffs | CNN Business
âTariffâ may be one of President Donald Trumpâs favorite words. But since the war with Iran broke out, it has rarely been part of his vocabulary. With a fragile agreement between the United States and Iran offering a path toward ending the monthslong war, tariffs are back on Trumpâs agenda. It could get ugly quickly. Ahead of this weekâs G7 Summit in France, Trump threatened to enact a 100% tax on French wine if Franceâs President Emmanuel Macron didnât ditch a 3% digital service tax. The tax is especially hard-hitting for US tech giants such as Amazon, Alphabet, Apple and Meta. âI asked him not to charge American companies, and if they do, I have no choice but to charge a 100% tariff on all Champagnes and all wines coming out of France,â Trump told the New York Post in an interview published Monday. Trump has been making these kinds of threats since the tax was enacted in 2019. Before his latest warning, he threatened in January to introduce a 200% tariff on French wines and Champagne after Macron signaled he wouldnât join Trumpâs âBoard of Peaceâ on Gaza. But, for a variety of reasons Trump hasnât followed through with those threats. The White House de
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