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.

In his first term, Trump also targeted the alcohol industry. A series of tit-for-tat tariffs hit alcohol products in the U.S. and the EU. The Biden administration suspended those tariffs, but now the industry is once again in the crosshairs. The industry has still been recovering from that first tariff spat.