The US President today described the EU as “one of the most hostile and abusive taxing and tariffing authorities in the world”.

The president said he would impose the levies if the European Union did not walk back plans to place retaliatory tariffs on whiskey and other U.S. products.

Donald Trump has threatened a 200% tariff on EU alcohol after the EU planned tariffs on U.S. products, including whiskey. The tension affected financial markets, continuing the ongoing trade conflicts with the EU and China.