The U.S. is suddenly looking less bubbly for European wines. 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.

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.

First, Trump imposed 25% tariffs on global steel and aluminum imports, which could impact $28 billion of European Union exports, according to the New York Times. “We deeply regret this measure. Tariffs are taxes.