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 Trump said he would impose a 200% tariff on U.S. imports of wine, Champagne and other alcoholic beverages from the bloc.