A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.

European goods entering the US will face a 15% tariff following an agreement between President Trump and European Commission President Ursula von der Leyen. While the deal avoids a harsher 30% tariff,

A new trade deal imposing 15% tariffs on EU imports to the U.S. currently excludes the wine and spirits industry. Spirits stocks reversed early gains Monday as uncertainty around their tariff exposure seeped in.

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U.S. agreement, secured by President Donald Trump in Scotland, imposes a 15% tariff on most European goods but does not outline a tariff for the wine and spirits industry.