The European Commission, the executive arm of the European Union, has announced a list of American products that could be targeted for tariffs worth more than $107 billion if trade talks with the Trump administration fail.
The commission said it will consult with member states before completing the list. The commission's announcement came the same day as President Donald Trump's announcement of a trade deal with the U.K.
The EU's list includes aircraft, cars, chemicals and plastics, agricultural products, and American spirits such as whiskey. The commission's proposed list totals $107.4 billion in countermeasures to Trump's tariffs on the EU.
"The EU remains fully committed to finding negotiated outcomes with the U.S.," Commission President Ursula von der Leyen said in a statement. "At the same time, we continue preparing for all possibilities."
The EU faces 25% U.S. import tariffs on its steel, aluminum, and cars, and reciprocal tariffs of 10% for almost all other goods, a levy that could rise to 20% after Trump's 90-day pause expires on July 8.
The commission has repeatedly said it would prefer a negotiated solution to tit-for-tat tariffs but wants to have a retaliatory response ready for July in case no solution is found.
The commission also said it would launch a dispute with the World Trade Organization over the Trump administration's reciprocal tariff policy on cars and car parts.
"It is the unequivocal view of the EU that these [U.S.] tariffs blatantly violate fundamental WTO rules," the commission said in the statement.
Information from Reuters was used in this report.
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