India, March 13 -- European stocks closed broadly lower on Thursday amid rising concerns about global economic growth following U.S. President's tariffs on steel and aluminum, the retaliatory measures from Canada and the European Union, and subsequent threat by Trump that reciprocal tariffs on U.S.' trade partners will take effect next month.
Today, U.S. President Donald Trump threatened to impose a 200% tariff on wines, champagnes and alcoholic products imported into the U.S. from France and other countries in the European Union.
Trump's threat follows the imposition of 50% tariff on American whiskey by the European Union, as a counter measure to previous levies announced by the U.S.
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