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President Donald Trump is threatening a 200% tariff on European wine, champagne, and other alcoholic products after the European Union announced a 50% tariff on American whiskey. The president posted on social media Thursday morning, demanding the EU drop its planned tariff, calling them "one of the most hostile and abusive taxing and tariffing authorities in the world." The EU's tariff on American whiskey is set to begin April 1 in response to Trump's new steel and aluminum tariffs. U.S. bourbon makers are urging Trump to de-escalate the trade war. The CEO of the Distilled Spirits Council said they want “toasts, not tariffs."