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.

President Donald Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned 50% tariff on American whiskey. Wine sellers and importers said a tariff of that size would essentially shut down the European wine business in the U.S.

European Union leaders have announced a 4.7 billion euro ($5.1 billion) investment package in South Africa to support green energy transition and vaccine production at their first bilateral summit in seven years.