Who will be affected next? Within minutes, Donald Trump’s announcement circulated throughout the French beauty products sector. On Thursday, March 13, via his Truth Social platform, the US president warned of a potential “200% tariff on all wines, champagnes, and alcoholic beverages imported from France and other EU countries” if Brussels did not retract its proposal to impose a 50% tax on American whiskey entering Europe.
SpiritsEurope, representing major producers like Diageo and Jack Daniel’s Brown-Forman, had previously cautioned about the “devastating consequences” of the Brussels initiative revealed on Wednesday, March 12, which was a response to the 25% tariffs imposed that same day on steel and aluminum imports from Europe to the US. Their concerns were justified.
Is the European beauty products industry also at risk of being targeted by Trump? The Fédération des Entreprises de la Beauté (FEBEA) fears becoming another “collateral victim” in this trade conflict, as noted by its general delegate, Emmanuel Guichard. The European Union is also contemplating taxes on American products, including cosmetics and essential oils. This consideration revives a list initially created in May 2018 in response to the tax measures on European steel and aluminum.
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