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 Donald Trump is threatening a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned tariff on American whiskey.

Trump slammed the European Union as “one of the most hostile and abusive taxing and tariffing authorities in the World.”