Yahoo Finance will chronicle the latest news and updates on Trump's tariffs — from the threats to the eventual policy.

In his first term, Trump also targeted the alcohol industry. A series of tit-for-tat tariffs hit alcohol products in the U.S. and the EU. The Biden administration suspended those tariffs, but now the industry is once again in the crosshairs. The industry has still been recovering from that first tariff spat.

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 U.S. is suddenly looking less bubbly for European wines. President Donald Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned 50% tariff on American whiskey.

President Trump on Thursday threatened to impose tariffs on wines, Champagnes and other alcoholic products imported to the U.S. from France and other European countries in response to raised tariffs the European Union placed on American whiskey.

It's approaching 16:00 in the London newsroom and midday in Washington. Trump is welcoming Ireland's Prime Minister, the Taoiseach Michéal Martin, at the White House after tariffs of 25% came into effect on all steel and aluminium imports to the US.

MARTILLAC, France (Reuters) - The owner of one of France's top Bordeaux wine chateaux hopes U.S. President Donald Trump's threat of 200% tariffs on European wine is just posturing because the impact would be devastating if not.

Donald Trump threatened on Wednesday to escalate a global trade war with further tariffs on European Union goods, as major U.S. trading partners said they would retaliate for trade barriers already erected by the U.