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.

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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.