Long-threatened tariffs from U.S. President Donald Trump have plunged the country into a trade war abroad — all while on-again, off-again new levies continue to escalate uncertainty.

US stocks slid Thursday and the S&P 500 closed in correction, down more than 10% from its record high in February, as President Donald Trump threatened new tariffs on the European Union.

Investors have been rushing to gold — a safe-haven asset — this year to hedge against risk from US President Donald Trump's trade war.

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

It started with tariffs, but the trade war is quickly escalating beyond import taxes into a broader tit-for-tat battle.

Worsening relations with three of the United States’ biggest trading partners dominated a Senate hearing for the would-be U.S. ambassadors to Canada, Mexico and Japan.

The Dow continues to slide amid President Trump's tariffs escalating a global trade war. Trump now has threatened to put a 200% tariff on European wine after the EU hit back with retaliatory tariffs.

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.

A full-scale global trade war would hurt the United States in particular and could re-energise Europe's push towards unity, European Central Bank President Christine Lagarde said on Friday.