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?

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.

President Donald Trump has threatened to place a 200% tariff on all alcohol from the European Union. Chloe Kim

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.

President Trump is doubling down on his global trade war after a turbulent week on Wall Street. NBC New business and data correspondent Brian Cheung has the latest on the markets. Also, NBC News White House correspondent Aaron Gilchrist joins Ana Cabrera to report more on the Trump administration's changes to the economy.

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.

The losses followed Trump's threat to impose hefty tariffs on European wines and alcohol, further escalating trade tensions.