Industry representatives warned that a 200 percent tax on European wines and spirits would halt shipments to the United States and wipe €4 billion off France’s trade balance.

President Donald Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned 50% tariff on American whiskey. Wine sellers and importers said a tariff of that size would essentially shut down the European wine business in the U.S.

President Trump threatened to impose 200% tariffs on alcohol from the European Union, one day after the EU said it planned 50% import taxes on U.S. whiskey and other products from April 1, in retaliat