Trump threatens 200% tariffs on European alcohol

As trade tensions flare, United States President Donald Trump has vowed to impose crushing 200% tariffs on European wine and spirits—a sharp rebuttal to the European Union's looming levies on American whiskey (via Reuters).

As a result, stocks slipped on Thursday, as fears of global protectionism rattled investors. Industry leaders intensified calls for de-escalation, warning of consumer backlash over crippling price hikes and logistical gridlock in already strained supply chains.

The European Union, which relies on the United States for nearly a third of its alcohol exports, now faces a high-stakes balancing act. For now, it remains to be seen how the European Union will respond.