Quote, unquote: drinks industry reaction to Trump tariff announcement [Yahoo! Finance]
TREASURY WINE EST S/ADR (TSRYY)
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Source: Yahoo! Finance
"My fellow Americans, this is Liberation Day," Trump said in the Rose Garden of the White House yesterday (2 April) as he unveiled a universal "baseline" tariff of 10% on all imports into the US. The levy will come into effect on Saturday. Some nations and trading blocs face higher rates; EU imports are to be hit with a 20% tariff, products from Japan have been lined up with a tariff of 24% and shipments from China are to be slapped with aggregate levies of 54% (though that includes earlier tariffs). South Africa is bracing for a 30% levy. These are set to go live on Wednesday. The 10% baseline tariff does not apply to imports from Canada and Mexico but the countries have already been targeted with separate measures. As business leaders digest the announcement, here is a snapshot of the breaking reaction from within the drinks industry. "The announced reciprocal tariffs on EU wines will damage EU wine companies and would create economic uncertainty and result in layoffs, defe
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