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Trump threatens tariffs on European wine and spirits in escalating trade war

Trump raised the ante a day after the European Commission said it will impose counter tariffs on €26 billion (US$28 billion) worth of US goods.



Trump threatened 200% tariffs on European wine, cognac, and alcohol in response to EU plans to impose tariffs on American whiskey following US tariffs on steel and aluminum. Canada also announced countermeasures to US metal tariffs. The move escalated global trade war concerns, impacting financial markets and raising recession fears.

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