Trump trade war

Trump threatens France on wine tariffs

President Trump, during his Tuesday morning Twitter tirade against France and its president, Emmanuel Macron, called out the country for charging tariffs on U.S. wine.

"On Trade, France makes excellent wine, but so does the U.S. The problem is that France makes it very hard for the U.S. to sell its wines into France, and charges big Tariffs, whereas the U.S. makes it easy for French wines, and charges very small Tariffs. Not fair, must change!"

The big picture: The European Union's import tariff on U.S. wine ranges from $0.11 to $0.29 per 750mL bottle, according to the California-based Wine Institute. The U.S., meanwhile, charges, between $0.05 and $0.14. Trump has long been critical of the EU's trade policies, and views potential auto tariffs as his best leverage in getting a fair trade deal.

U.S. soybean farmers hang on for dear life in Trump's China trade war

Farmer Terry Davidson walks through his soy fields in Illinois in July. Photo: Nova Safo/AFP/Getty Images

America's soybean farmers are hanging onto their crops in an attempt to wait out President Trump's trade war with China, more than doubling U.S. soybean inventories, reports Bloomberg.

The big picture: Retaliatory tariffs have drastically pushed down demand for American soybeans in China, easily the crop's largest market, with imports down by nearly 90%. And prices have fallen, too, as a bushel of soybeans now trades for less than $9 compared to more than $11 earlier in the year.

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