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

Merchants worried that a trade war could wreak financial havoc in a region that has a robust business exporting the world’s finest bubbly to the United States.

President Trump accused the EU of being “one of the most hostile and abusive taxing and tariffing authorities in the World."