FRANKFURT (Reuters) -German carmaker BMW said on Friday it expected tariffs to cost it 1 billion euros this year, while European officials warned the U.S. economy would be the biggest loser if President Donald Trump pursues an "idiotic" trade war.

President Trump’s threat to impose 200% tariffs on wine, champagne and other alcoholic beverages from the European Uni

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 wants to force the United States to the negotiating table with retaliatory tariffs on a range of American products, including some from Republican strongholds.

By Christoph Steitz, Balazs Koranyi and David Lawder FRANKFURT/WASHINGTON (Reuters) -German carmaker BMW said on Friday it expected tariffs to cost it 1 billion euros ($1.09 billion) this year, while European officials warned the U.

This comes as BMW along with other European carmakers are bracing for impact from US President Donald Trump’s planned tariffs on vehicles imported to the US.