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Trump threatens 200% tariff on French Champagne, the latest turn in a boozy trade war

Tariffs have you craving a drink? Too bad.

J. Edward Moreno

Another day, another tariff.

President Donald Trump threatened to impose a 200% tariff on booze from France and other European nations after the European Union moved to reinstate an import tax on American whiskey. This is the latest escalation in a trade war between the US and the rest of the world, and it’s not the first time alcohol sales have gotten caught in the mix.

While the EU tariff was only on American whiskey, Trump said his tariffs would go on all “WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES.” He also said this “will be great for the Wine and Champagne businesses in the U.S.”

Not to be that guy, but: Champagne can only legally be labeled as such if it comes from the Champagne region of France. US wineries, predominantly in California, do produce sparkling wine, though.

The company most impacted company by Trump’s move is LVMH Moët Hennessy Louis Vuitton, owned by Europe’s richest man, Bernard Arnault. The company sold 61.7 million bottles of Champagne in 2024, and the largest share of those bottles were exported to the US.

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J. Edward Moreno17h
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Discount stores are having a moment in America, drawing high- and low-income consumers alike

Everyone loves a deal in 2025 — and Aldi, Walmart, and Dollar Tree are all cashing in.

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Max Knoblauch

Report: OpenAI won’t pay a dime in cash for its 3-year licensing deal for Disney IP

More financial details behind the landmark deal that will grant OpenAI three years of access to Disney intellectual property are coming out, and they’re pretty surprising.

The deal will reportedly see OpenAI pay zero dollars in licensing fees, instead compensating Disney in stock warrants. It was previously reported that Disney would invest $1 billion into OpenAI as part of the agreement.

It’s very abnormal for Disney to grant anyone access to its massive IP library without a cash payment, and the entertainment juggernaut has been known to strike down even crocheted Etsy Yodas for infringing on its turf. In its fiscal year 2025, Disney booked more than $10 billion in revenue from licensing fees across merchandising, television, and theatrical distribution.

OpenAI Deal to License Disney Characters Is Entirely in Stock

OpenAI Deal to License Disney Characters Is Entirely in Stock

It’s very abnormal for Disney to grant anyone access to its massive IP library without a cash payment, and the entertainment juggernaut has been known to strike down even crocheted Etsy Yodas for infringing on its turf. In its fiscal year 2025, Disney booked more than $10 billion in revenue from licensing fees across merchandising, television, and theatrical distribution.

business
Max Knoblauch

Ford says it will take $19.5 billion in charges in a massive EV write-down

The EV business has marked a long stretch of losing for Ford, and today the automaker announced it will take $19.5 billion in charges tied, for the most part, to its EV division.

Ford said it’s launching a battery energy storage business, leveraging battery plants in Kentucky and Michigan to “provide solutions for energy infrastructure and growing data center demand.”

According to Ford, the changes will drive Ford’s electrified division to profitability by 2029. The company will stop making its electric F-150, the Lightning, and instead shift to an “extended-range electric vehicle” that includes a gas-powered generator.

The Detroit automaker also raised its adjusted earnings before interest and taxes outlook to “about $7 billion” from a range of $6 billion to $6.5 billion.

Ford’s write-down is one of the largest taken by a company as legacy automakers scale back on EVs, giving EV-only automakers a market share boost.

business
Max Knoblauch

GM adds Apple Music to select new vehicles, racing to fill the gap left by CarPlay’s absence

Earlier this year, General Motors said it plans to end support for in-vehicle phone projection systems like Apple CarPlay and Android Auto on all of its vehicles (a big expansion of the move it announced for its EVs back in 2023).

Now, the automaker appears to be stocking its replacement system with native apps to fill the void. On Monday, GM announced it was rolling out Apple Music to select 2025 Chevrolet and Cadillac models.

Losing CarPlay is a sore subject for many drivers: 39% of respondents to an American Trucks survey this month said a lack of the system (or Android Auto) is a “deal-breaker” when it comes to buying a new vehicle.

Many automakers appear willing to risk alienating those potential customers in exchange for access to lucrative data. Others, including Tesla, are working to allow CarPlay to boost sagging sales, according to reporting by Bloomberg.

GM Strikes Deal to Put Apple Music in All of Its New Vehicles

GM Strikes Deal to Put Apple Music in All of Its New Vehicles

Losing CarPlay is a sore subject for many drivers: 39% of respondents to an American Trucks survey this month said a lack of the system (or Android Auto) is a “deal-breaker” when it comes to buying a new vehicle.

Many automakers appear willing to risk alienating those potential customers in exchange for access to lucrative data. Others, including Tesla, are working to allow CarPlay to boost sagging sales, according to reporting by Bloomberg.

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