The European Union is delaying until mid-April its retaliatory trade action over the Trump administration’s increase in tariffs on all steel and aluminum imports.

President Donald Trump on Thursday threatened to impose a massive tariff on European alcohol in response to the European Union’s retaliation against his steel and aluminum tariffs – a tit-for-tat escalation of a trade war that could easily get out of hand.

The European Union plans to impose new tariffs on imports of certain U.S. products such as bourbon whiskey, jeans, motorcycles, boats and peanut butter in mid-April. The measure i