The Trump administration plans to place tariffs on $7.5 billion worth of European imports — from gouda cheese to single-malt whiskey to large aircraft — beginning Oct. 18 to retaliate against illegal European Union subsidies for aviation giant Airbus. The tariffs on EU imports will hit products including wine, olives, cheeses such as English cheddar and Swiss cheese and Irish butter such as Kerrygold, according to a list released by the United States Trade Representative. Liqueurs, cordials and Irish and Scotch whiskies will also face tariffs of 25%. Breaking: US imposing 25% on French wine, single-malt Scotch whisky as part of response to EU aircraft subsides pic.twitter.com/Z5fMNwPCoq Rising tensions with Europe present a new headwind for the U.S. economy, which is losing speed amid the Trump administration’s festering trade war with China and a weakening manufacturing sector. Earlier this week, a measure of factory activity in the U.S. registered its weakest reading in more than 10 years. Such concerns are making investors jittery, with the Dow closing down nearly 500 points on Wednesday and other leading indexes also losing ground. “There is never a good time fo...