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.

Imported wine and spirits encompass 35% of revenue of all US sales in the alcohol market, meaning that all aspects of cocktails and wines ordered at restaurants or purchased at retailers will “rise significantly” if the tariffs go into effect.

President Trump’s threat to impose 200 percent fees on European wines could harm importers, distributors, retailers and restaurants without necessarily helping U.S. producers.