Donald Trump threatens 200 per cent tariffs on European wine

US President Donald Trump has threatened a 200 per cent tariff on European alcohol imports, prompting the EU to plan counter-tariffs on US whisky with a 50 per cent duty hike. Businesses are warning of economic risks and urging leaders to halt the escalating trade war, as stocks fall and investors worry about the impact on the world’s largest consumer market. Trump’s aggressive trade tactics have spooked investors and raised recession fears, with industries like jets, coffee, clothing, autos, and packaged foods scrambling to assess their operations amidst the uncertainty.

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