French Beauty Exports Feel the Pain of Trump’s Tariffs

France’s exports to the US of signature products including champagne and perfume slumped at the end of last year, weighed by President Donald Trump’s tariffs and a weaker dollar.

Shipments of spirits tumbled 47 percent on year in the final quarter of 2025, wine fell 39 percent and perfumes and cosmetics were down 25 percent, data from the French customs office showed.

Part of the downturn is attributable to front-loading of exports at the start of the year in anticipation of Trump’s tariffs. But outbound trade at the end of 2025 was still well below comparable period of previous years, the customs office said on Friday.

Its annual report on commerce also highlighted that exports of wines to the rest of the world were stable and drop in spirits were far less pronounced than to the US.

A large part of the decline comes from a slump in prices to the American market, with the cost of champagne going to the US falling 20 percent on year in the second half of 2025.

France’s exports of wines and champagne to the US has been a flash point in trade tensions after Trump floated a 200 percent levy last month. The French minister for trade, Nicolas Forissier, said such threats are unacceptable and would trigger a response from Europe.

By William Horobin

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