The EU is preparing a target list of US products it would hit with punitive tariffs if the administration of US President Donald Trump goes through with its threat to impose tariffs on European auto imports, EU Commissioner for Trade Cecilia Malmstrom said on Wednesday.
Malmstrom reported no breakthroughs on resolving the dispute over vehicles or the battle over tariffs the US has already imposed on steel and aluminum imports.
Her comments came after a meeting in Washington with US Trade Representative Robert Lighthizer.
Malmstrom said both sides are proceeding with an understanding reached in July between Trump and European Commission President Jean-Claude Juncker that neither side will impose new tariffs while talks are under way.
However, she said that the EU is developing a target list of US products should it be needed.
Malmstrom would not provide examples of targets that the EU might hit, saying that the list was still being reviewed by member countries.
The EU has already imposed tariffs on US$3.4 billion of US products — from whiskey and motorcycles to peanuts and cranberries — in retaliation for the tariffs on European steel and aluminum.
When those tariffs went into effect earlier in the year, Malmstrom said that the EU had targeted some iconic US imports like Harley-Davidson motorcycles and bourbon to put pressure on US leaders.
Malmstrom on Wednesday said she had told Lighthizer that a tit-for-tat trade war would be damaging to both Europe and the US.
“Many jobs will be lost in the US,” she said.
Malmstrom said the main focus of the discussions with Lighthizer involved looking for ways to lower regulatory barriers and enable EU countries to import more US products such as soybeans and liquefied natural gas.
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