FT reported on France's requests to cancel US duties of 15% on wine and champagne
France is seeking the withdrawal of champagne and other types of wine from the US duties on European goods of 15%, which were introduced after the conclusion of a trade deal between Washington and Brussels. This was reported by The Financial Times (FT) on July 29.
"France insists on exempting champagne and other wines and spirits from US duties, as European officials seek more exemptions from the trade agreement with Washington," the publication says.
It is noted that European officials are trying to include as many products as possible in the list of goods that are not subject to new American duties. However, the issue of excluding wines and champagnes from this list is still being discussed.
"I can only say that we seem to have progressed further in the field of spirits than in the field of wine, but we are continuing discussions in this area," the article quotes the representative of the European Union (EU).
According to the FT, almost a third of French alcohol exports go to the United States. Wine accounts for the majority of the products supplied.
Bloomberg reported earlier in the day that the trade agreement that the US and the EU had previously concluded in Scotland was prompting Brussels to analyze its position due to its "lost influence" on the world stage. The article clarifies that the terms of this deal will deal a "significant blow" to European companies.
The United States and the EU agreed on a trade deal on July 28. The agreement will allow the EU to avoid 30% duties that could be imposed by Washington. As a result of the deal, the European Union remains with 15% tariffs on most of its exports, including cars. In addition, the EU agreed to purchase $750 billion worth of American energy resources and invest another $600 billion in the US economy.
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