President Donald Trump on Thursday threatened to impose a massive tariff on European alcohol in response to the European Union’s retaliation against his steel and aluminum tariffs – a tit-for-tat escalation of a trade war that could easily get out of hand.

In his first term, Trump also targeted the alcohol industry. A series of tit-for-tat tariffs hit alcohol products in the U.S. and the EU. The Biden administration suspended those tariffs, but now the industry is once again in the crosshairs. The industry has still been recovering from that first tariff spat.

President Donald Trump threatened Thursday to impose a 200% tariff on alcoholic beverages imported from the European Union after the EU’s executive body unveiled retaliatory tariffs. The European Commission said Wednesday that it would impose import taxes on $28 billion worth of U.

By David Lawder, Andrea Shalal and Jarrett Renshaw WASHINGTON (Reuters) -Donald Trump threatened on Wednesday to escalate a global trade war with further tariffs on European Union goods, as major U.S.

President Donald Trump threatened the European Union Thursday with a retaliatory 200% tariff on all the alcoholic products it exports to the United States.