Wine enthusiast Steven Nordhoff typically spends about $25,000 a year adding to his 2,500-bottle collection, with Bruno Giacosa reds from Italy or Vilmart champagnes from France. But not now.

Trump threatened to impose a 200% tariff on wine and liquor imported from the European Union. The potential tariff is in response to the EU's proposed tariff on American whiskey. If the tariff on European wine and liquor goes into effect,