Merchants worried that a trade war could wreak financial havoc in a region that has a robust business exporting the world’s finest bubbly to the United States.

President Trump on Thursday threatened to impose tariffs on wines, Champagnes and other alcoholic products imported to the U.S. from France and other European countries in response to raised tariffs the European Union placed on American whiskey.

The owner of one of France's top Bordeaux wine chateaux hopes U.S. President Donald Trump's threat of 200% tariffs on European wine is just posturing because the impact would be devastating if not. Trump on Thursday threatened to slap a 200% tariff on European wines and other alcoholic products unless the European Union scraps its planned tax on American whiskey.

SpaceX and Tesla — have submitted letters lobbying the U.S. trade representative on Trump administration tariff policies. The letters come as Musk oversees an effort to slash federal government spending and employee headcount at the behest of President Donald Trump.