Gabriel Picard, who heads the French Federation of Exporters of Wines and Spirits, said 200% tariffs would be “a hammer blow” for France’s industry, whose wine and spirits exports to the U.S. are worth 4 billion euros ($4.3 billion) annually.

Following U.S. President Donald Trump’s flurry of tariffs on Canadian, Mexican and Chinese products, Europe is expecting similar announcements. France, whose wines and spirits are a traditional target in trade conflicts with the EU,

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.