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.

President Trump threatened to impose 200% tariffs on alcohol from the European Union, one day after the EU said it planned 50% import taxes on U.S. whiskey and other products from April 1, in retaliat

This will be great for the Wine and Champagne businesses in the U.S.," the president proclaimed on Truth Social