The president’s plans for steeper import taxes remain fluid, but he promises they’ll take hold after temporary delays. Consumers will start to see the impact in store aisles.

President Donald Trump’s newest tariff threat on European alcohol is the latest in a line of proposed levies on goods from abroad as a global trade war widens between the U.S. and its partners. See also: The alcohol trade war has broken out — and is coming for your glass of wine How long is that line?

But uncertainty around Trump's tariff policy continues to grip Wall Street, and his trade war has only intensified this week. The president has vowed to respond to tariffs planned by the EU and Canada in response to US duties on steel and aluminum imports — most notably leading off Thursday by threatening a 200% tariff on imports of EU wines and spirits.

The Dow Jones and S&P 500 tumbled on Thursday, deepening losses suffered since the outbreak of a trade war set off by President Donald Trump's tariffs.