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

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

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.

A full-scale global trade war would hurt the United States in particular and could re-energise Europe's push towards unity, European Central Bank President Christine Lagarde said on Friday. The U.S. has imposed a raft of tariffs on friends and foes alike and threatened even more measures,

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

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).