President Donald Trump’s suspended tariffs on many goods from Canada and Mexico are set to take hold April 2, with more import taxes on other products and countries coming soon.

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?

The threat of tariffs looms over many companies because they make anything imported more expensive. If that is the only source for products, then consumers or businesses may hold out on purchasing them to wait out tariffs in the hope that they will be reduced.

An economist warns consumers about a potential economic downturn with President Donald Trump's trade war pressing on.

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.