Brussels: European stock markets ended Thursday with losses as US President Donald Trump threatened to impose a 200% tariff on all wines, champagnes, and alcoholic products from the EU unless the union withdraws a 50% tariff on American whisky. He accused the EU of being 'one of the most hostile and abusive taxing and tariffing authorities in the World,' claiming it was formed to 'take advantage' of the US.

According to Anadolu Agency, Trump stated in a social media post that unless the EU removes the tariff immediately, the US would impose a steep 200% tariff on wines, champagnes, and alcoholic products from France and other EU countries. This announcement sent shockwaves through European markets, leading to notable declines in several key companies. Wine and spirits firms Pernod Ricard, Remy Cointreau, and Davide Campari all saw a drop of around 4% on Thursday. Additionally, drinks giant Diageo experienced a 0.2% decline, while luxury goods company LVMH lost 1%.

The European Commission responded swiftly, announcing that the EU is prepared for potential additional tariffs from the US. Olof Gill, the European Commission's Spokesperson, stated in a news conference in Brussels, "We are ready for whatever may happen. We have been ready for over a year." He urged the US to lift the tariffs and engage in negotiations to prevent future tariffs.

The pan-European Stoxx 600 index experienced a decline of 0.19% or 1.02 points, closing at 540.22. Germany's DAX 40 index fell 0.48% or 109.27 points, closing at 22,567.14. France's CAC 40 also saw a decline of 0.64% or 50.75 points, finishing at 7,938.21, while Italy's FTSE MIB 30 index experienced a drop of 0.8% or 307.38 points, ending at 37,999.73. In contrast, Britain's FTSE 100 remained mostly stable, with a slight increase of 1.6 points to 8,542.56.