Trump Threatens 200% Wine Tariff Unless EU Lifts Whiskey Tariff

President Donald Trump has threatened to impose a 200% tariff on European wines and spirits if the European Union proceeds with its planned 50% tariff on American whiskey, as per ABC News. The European Union is aiming to levy tariffs on American goods worth USD 28 billion in retaliation for previous U.S. duties on steel and aluminum, also according to ABC News. As trade tensions intensify, worries about an economic downturn are mounting, with Goldman Sachs raising the probability of a recession to 20%, as reported by ABC News. European Commission President Ursula von der Leyen emphasized that the EU must take action to safeguard consumers and businesses amid these trade tensions.