Why is President Donald Trump suddenly concerned about getting U.S. wine into Europe?
“France charges us a lot for the wine. And yet we charge them very little for French wine,” Trump told CNBC on Monday, promising that he would “do something” about that.
The president argues he wants to right long-standing wrongs against the asymmetric tariffs of the European Union, whose pernicious effects are amplified by the undervaluation of the euro.
However, the truth is in all likelihood more prosaic: it’s because his own trade policies have just closed off the U.S. wine industry’s fastest-growing export market: China.
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