Recession fears are growing as President Donald Trump is threatening to impose 200 percent tariffs on alcohol from the European Union, sending stocks plunging yet again. "I'm not going to bend at all,

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 threatened to impose 200% tariffs on alcohol from the European Union, one day after the EU said it planned 50% import taxes on U.S. whiskey and other products from April 1, in retaliat