U.S. President Donald Trump on Tuesday threatened 200% tariffs on French wines and champagne. This latest Trump tariffs threat comes as the crypto market crashes with fears over the U.S. president’s move and other macro factors, such as a potential Japan rate hike.
Trump Tariffs On France Could Rise To 200%
Trump responded after a reporter asked about Macron’s reported refusal to join the Board of Peace. He dismissed Macron’s influence and referenced France’s wine exports. Trump said the United States would impose 200% tariffs if France adopted what he called a hostile stance. However, he added that Macron did not need to participate.
Notably, Trump framed the tariff threat as conditional and immediate. He claimed the measure would pressure compliance without requiring a formal agreement. Currently, European Union wines and spirits entering the United States face a 15% tariff. Therefore, the proposed increase would be a sharp increase.
The comments came as Trump criticized Macron personally. He said Macron would soon leave office, though he provided no timeline. The remarks followed Macron’s private message questioning Trump’s actions related to Greenland, which Trump later made public.
Greenland Dispute Broadens U.S.-EU Frictions
However, the tariff warning was not alone. Trump again stated his intention for the United States to control Greenland. He argued Europe lacked the capacity to protect the territory. Trump said Denmark’s historical presence did not establish ownership, referencing a centuries-old arrival.
Earlier, Trump warned European lawmakers that the United States would pursue Greenland “whether they like it or not.” He framed the move as necessary for world security. On Saturday, Trump also threatened tariffs of up to 25% on eight European countries.
Those countries include Denmark, France, Germany, the United Kingdom, Norway, Sweden, the Netherlands, and Finland. Initial 10% tariffs would begin on February 1. The rate would rise to 25% on June 1 without agreement.
Europe, China React as Davos Talks Loom
Meanwhile, European capitals began weighing retaliatory measures. Officials discussed tariffs reaching $108 billion on U.S. goods. These talks followed Trump’s public posts outlining his tariff plans. However, Trump said he expected limited resistance from Europe.
He confirmed negotiations would take place at the World Economic Forum in Davos. Trump said the meetings would address tariffs and Greenland. He also plans a public address on Wednesday on tariff developments.
China also responded as tensions increased. They warned against invoking a “China threat” narrative. Foreign Ministry spokesman Guo Jiakun said Greenland issues should follow international law and the UN Charter.
Crypto Market Outlook Following Trump Tariffs
Tariff threats have had negative impacts, with BTC dipping by 2.05% drop and ETH falling by 4.57% to $3,000 as of press time. However, firms have seized the opportunity to buy the dip, with Strategy acquiring 22,305 BTC for approximately $2.13 billion today at an average of $95,284 per bitcoin, bringing their total holdings to 709,715 BTC valued at around $53.92 billion at an average of $75,979 per coin.
Meanwhile, CardoneCapital is adding another $10 million in BTC to its real estate hybrid model, reinforcing its commitment to long-term holdings in both institutional-grade real estate and Bitcoin. These moves reflect continued institutional confidence despite short-term market declines.
Trump’s tariff threats against France indicate rising pressure on U.S.-EU trade ties. The dispute now links diplomatic initiatives, territorial claims, and tariff schedules.
Source: https://coingape.com/trump-tariffs-u-s-president-threathens-200-tariffs-on-france-amid-greenland-dispute/
