In a social media post Thursday morning, President Donald Trump threatened to impose a major tariff on France and other European countries in response to a 50% retaliatory tariff on American whiskey.

President Trump has recently threatened major tariffs on Champagne imports. Here's how it could seriously backfire on U.S. consumers and the beverage industry.

Italy, France and Spain are among the top five exporters of wine to the United States. Trump made his threat to Europe’s alcohol industry after the European Union announced a 50% tax on American whiskey expected to take effect on April 1. That duty was unveiled in response to the Trump administration’s tariffs on foreign steel and aluminum.