Long-threatened tariffs from U.S. President Donald Trump have plunged the country into a trade war abroad — all while on-again, off-again new levies continue to escalate uncertainty.Trump is no stranger to tariffs.

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.

A full-scale global trade war would hurt the United States in particular and could re-energise Europe's push towards unity, European Central Bank President Christine Lagarde said on Friday.