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Liquor is leverage as the world careens toward another trade dispute. European tariffs on American whiskey snap back after March 31 unless an extension is granted.

With less than a month in office, the president has pursued trade actions that could shatter the global trading system and dwarf the trade measures he took over his entire first term.

Along the Pearl River in southern China, a fast-growing industry is churning out cheap clothes and toys that are flooding the world duty-free.

The president said advisers would devise new tariff levels reflecting countries’ tariffs, taxes, subsidies and other policies affecting trade with the United States.

President Trump pledged to lower costs on “Day 1” as a candidate. His administration now acknowledges it will take more time.

Duties of 25 percent on steel and aluminum will flow through to car buyers, beer drinkers, home builders, oil drillers and other users of metal goods.

The 25 percent tariff the president is proposing is almost identical to a move in his first term. Economists and foreign governments know what will come next.

The president said he planned sweeping tariffs on all steel and aluminum imports on Monday and would take other action to even out tariff rates with the rest of the world later this week.

The president said he planned sweeping tariffs on all steel and aluminum imports on Monday and would take other action to even out tariff rates with the rest of the world later this week.

President Trump announced potentially crippling tariffs against Canada, only to suspend them for 30 days. What will satisfy him remains unknown.