The European Commission will publish on Thursday a list of €95 billion worth of possible tariffs on American products if negotiations with the United States fail to reach a satisfactory conclusion.
The figure of €100 billion worth of goods was already circulating and has now been confirmed by the Commission as a response to the US import tariffs of 25% on cars and car parts and 10% on almost all other goods.
The bloc is also considering export restrictions on a further €4.4 billion worth of goods.
The EU had previously announced import tariffs on €21 billion worth of products in response to import duties on steel and aluminium, which were suspended for 90 days to give the negotiations with the US a chance.
The Commission emphasises that it still hopes for a negotiated solution with the United States, but that it also wants to prepare for other scenarios.
"We are no longer talking only about short-term retaliatory measures to put pressure on the negotiating table, but also about rebalancing: how should we respond if the US tariffs remain in place and trade conditions continue to change," a European source said on Thursday.
That is why the Commission is not proposing a symmetrical approach – the US tariffs on cars, car parts and other products affect €380 billion worth of European goods.
"We are looking at what makes sense for us, at measures that are more sustainable," the source added. The list includes agri-food products such as nuts and vegetables, fish, alcoholic beverages, aircraft, cars, car parts, electrical appliances and healthcare-related products such as tubes for medical equipment.
Maros Šefcovic, Executive Vice President, Commissioner for Trade and Economic Security, European Commission, speaks at a roundtable with business stakeholders at the U.S. Chamber of Commerce in Washington, D.C. on February 19, 2025. Credit: EU
Pharmaceutical products and semiconductors are not on the list, for example, because the US has not (yet) imposed import duties on these products. Export restrictions may be imposed on aluminium and steel scrap, for example.
The level of the tariffs, if they are introduced, has not yet been decided. However, it is clear that the EU does not intend to simply copy the US tariffs. "While the US has opted for a low tariff (10%) on a wide range of goods, we could, for example, opt for a higher tariff on a smaller number of goods. This could also play a role in eliminating the asymmetry," the statement added.
The Commission's list is now being submitted for consultation to stakeholders, who have until 10 June to comment. The Commission hopes to have a final list by the end of June or early July. This will then have to be approved by the Member States.
There is therefore a good chance that some products will be removed from the list. This is not a problem, as the consultation is intended to seek feedback from those who "work with the products every day".
"What could be the impact of the measures, are there alternative sources of supply, are there other concerns?" a source explains.
In addition, there are sensitivities within the Member States. For example, when the previous list of products was drawn up, bourbon was removed from the list at the insistence of France and Italy because Trump had threatened to impose tariffs of up to 200% on European wines and spirits. Bourbon is now back on the list because alcoholic beverages are now subject to "reciprocal" tariffs of 10%.
Sources emphasise that other options, such as tariffs on services, are still on the table. "We are simply not conducting public consultations on this," they say. The Commission is looking at, among other things, the US announcement on tariffs on foreign films.
