The U.S.-European tariff conflict is jeopardising transatlantic business worth $9.5 trillion annually, the American Chamber of Commerce to the EU warned on Monday.

President Donald Trump threatened the European Union Thursday with a retaliatory 200% tariff on all the alcoholic products it exports to the United States.

President Donald Trump on Thursday threatened to impose a massive tariff on European alcohol in response to the European Union’s retaliation against his steel and aluminum tariffs – a tit-for-tat escalation of a trade war that could easily get out of hand.

President Trump said he would impose a 200% tariff on U.S. imports of wine, Champagne and other alcoholic beverages from the bloc.

The U.S.-EU trade conflict is endangering a $9.5 trillion economic relationship, warns the American Chamber of Commerce to the EU (AmCham EU). Despite record-breaking trade in goods and services, surpassing $2 trillion

The ongoing tariff conflict between the United States and the European Union is putting at risk an estimated $9.5 trillion in annual transatlantic business, according to a new report from the American Chamber of Commerce to the EU (AmCham EU).

Tariffs risk damaging far more than sales of whiskey and Champagne, the American Chamber of Commerce to the European Union says.