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.

Yahoo Finance will chronicle the latest news and updates on Trump's tariffs — from the threats to the eventual policy.

President Trump on Thursday threatened to impose tariffs on wines, Champagnes and other alcoholic products imported to the U.S. from France and other European countries in response to raised tariffs the European Union placed on American whiskey.