What does 200% tariff mean to consumers and whole liquor industry?

Earlier this month, President Donald Trump announced a wave of new tariffs on imports of foreign alcohol products. He said If the European Union doesn't drop its planned 50% tariff on whiskey, the U.S. will retaliate with a 200% tariff on European wines, champagne, and other alcoholic products. Zhuoya Ma reports on what these tariffs could mean for consumers and the industry in New York City.