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.

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.

European Union leaders have announced a 4.7 billion euro ($5.1 billion) investment package in South Africa to support green energy transition and vaccine production at their first bilateral summit in seven years.