Cognac is just one of hundreds of EU goods that could be hit with 100% tariffs. Getty(Updated: 3:09 p.m. EST, 12/13/2019)Topline: Just hours after the U.S. and China agreed to a phase one trade deal, CNBC reported that U.S. trade officials are considering hitting a raft of EU goods⁠—like whisky, Cognac, cheeses and more⁠—with 100% tariffs. The tax, aimed at big, mostly American tech companies like Amazon and Facebook, is seen by the USTR as discriminatory. And although a phase one trade deal is in place with China (which Trump trumpeted as “amazing”) a few things remain uncertain. Namely, it’s unclear if China will actually purchase the $50 billion of U.S. agricultural goods Trump requested, and one economist said the deal is not as big a win as both sides are claiming.

Source: Forbes December 13, 2019 20:00 UTC