E.U. tariffs set to raise pasta and wine prices, threatening jobs on both sides of the Atlantic

Europe is sounding the alarm: Tariffs could soon be hitting wallets of people in the United States

Europe is sounding the alarm: Tariffs could soon be hitting wallets of people in the United States.

The 30% tariffs on European Union imports, announced by President Donald Trump on Saturday, could be a “death blow” to the European food industry and lead to price hikes for American consumers, the Italian winemakers association UIV said. “The 30% tariff on wine … would be virtually an embargo on 80% of Italian wine,” the group added, according to a translated statement.

Coldiretti, an association that represents European agricultural companies, said American consumers would likely face shortages or see price hikes for imported wine, cheese and pastas.

And German industry association BDI called the escalation “incomprehensible,” warning that it threatened jobs and investment worldwide. Germany is the top E.U. exporter to the U.S.

Cars and other vehicles produced in the E.U. could also face increased prices. "The costs for our companies have already reached the billions—and with each passing day, the total continues to grow," the German auto trade group VDA told NBC News in a statement Monday.