U.S. President Donald Trump's threat to impose 200% tariffs on alcohol from Europe would serve a major blow to drinks makers on the continent, but it could have one unlikely beneficiary — the struggling beer industry.

The president said he would impose the levies if the European Union did not walk back plans to place retaliatory tariffs on whiskey and other U.S. products.

The European Union has responded with retaliatory tariffs of its own, with a special focus on products from red states.