The European Union was probably mistaken in targeting American whiskey in its riposte to U.S. tariffs, French Prime Minister Francois Bayrou said on Sunday, calling for talks to avoid more damaging duties on France's cognac industry.

Shares of Jack Daniels maker Brown-Forman fell 5.5% Wednesday on news that the European Union would move forward with a 50% tariff on American whiskey in an escalating global trade war. Th

As he threatened 200 percent tariffs on all EU wine, President Donald Trump asserted that the move would bolster American wineries. The reality is quite the

President Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned tariff on American whiskey.The European import tax, which was unveiled in response to steel and aluminum tariffs by the U.

Trump, vowed a new escalation in his trade war if the EU goes forward with the planned 50% tax on American whiskey.

French Prime Minister François Bayrou said the European Union might have mistakenly targeted American whiskey in response to the United States tariffs. Bayrou called for discussions to avoid further harmful tariffs that could impact the French cognac industry.