Cognac Industry Faces Turmoil Amid Proposed Tariffs

A senior official in the cognac industry criticized President Trump's proposal of a 50% tariff on EU goods, stating it would devastate the industry. The U.S., their largest market, accounts for over half of cognac sales. The tariffs are set to start on June 1.

A senior cognac industry official has strongly criticized U.S. President Donald Trump's latest proposal to impose a 50% tariff on European Union goods. The official claimed on Friday that such tariffs would place the cognac industry in a difficult position.

The announcement came as President Trump suggested that the higher tariff would commence on June 1, affecting a wide array of European goods.

The official highlighted that the American market accounts for over 50% of cognac sales by volume, suggesting that this move could effectively halt cognac sales in the U.S.

(With inputs from agencies.)