Europeans splurged on American spirits ahead of Donald Trump’s return to the White House and the potential for him to start another trade war.

The Port of Los Angeles, the largest port in the U.S., predicts a 35% drop in shipments, nearly all from China, in a matter of weeks.

Businesses across multiple industries are hiking prices, backing away from previous financial guidance and warning of growing uncertainty as U.S. President Donald Trump's trade war pushes up costs, upends supply chains and stirs concerns about the global economy.