The European Commission on Thursday unveiled plans to impose additional tariffs on US imports worth up to €95 billion ($107 billion) if negotiations with Washington do not lead to a solution to the trade conflict.
A list of targeted products published on Thursday covered industrial and agricultural goods, including cars and car parts, aeroplane parts, machines, and fuels, as well as livestock, meats, fresh produce chocolates, wine and other alcoholic beverages.
Additionally the commission is consulting with capitals “on possible restrictions on certain EU exports of steel scrap and chemical products to the United States worth €4.4 billion,” a press release read.
Business affected by the potential measures can submit their views on the list over the next four weeks.
The commission then wants to finalize the list with EU countries in time and “ready to use in case negotiations with the US do not produce a satisfactory result,” the commission said.
In April US President Donald Trump paused special levies on imports from most trading partners including the European Union for 90 days, prompting the bloc to suspend its planned countertariffs to allow for further talks.
“The EU remains fully committed to finding negotiated outcomes with the US,” said European Commission President Ursula von der Leyen.
“We believe there are good deals to be made for the benefit of consumers and businesses on both sides of the Atlantic. At the same time, we continue preparing for all possibilities,” von der Leyen added.
The commission also announced that it will initiate proceedings against the US at the World Trade Organization (WTO) over Trump’s tariffs.
Earlier this week EU Trade Commissioner Maroš Šefčovič warned that the US might impose new tariffs on European exports, targeting up to 97% of exported goods.
In addition to an ongoing investigation on lumber, the US administration recently opened six further investigations to determine the effect of imports on national security, said Šefčovič.
The additional targeted sectors include pharmaceutical products, semiconductors, critical minerals, and trucks and truck parts, he said.
If all these investigations lead to additional tariffs, 97% of EU exports to the US would be subject to import duties representing a trade volume of €549 billion, he said.
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