Brace yourselves, wine lovers. The price of Italian and other European wines in the US could double at the end of January. A bottle of your favourite Chianti, Barolo or Prosecco could soon cost twice as much if you're in the US, as the Trump administration is threatening to slap 100 percent tariffs on all wines imported from Europe.

On December 12, the US government proposed a 100-percent tariff on all European wines (as well as cheeses, olive oils, whiskies, and many other products) to take effect in early 2020.