President Donald Trump on Thursday threatened 200% tariffs on alcoholic products from the European Union, saying the import taxes would come “shortly” unless the E.U. backs down from its plan to hit American whiskey with a 50% levy on April 1.

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.

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.