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Trade commissioner: EU preparing to unveil $20B in tariffs on US goods

Trade commissioner: EU preparing to unveil $20B in tariffs on US goods

The European Union's (EU) trade commissioner, Cecilia Malmström, said Wednesday that the EU is readying tariffs on $20 billion in U.S. goods if President TrumpDonald TrumpIran convicts American businessman on spying charge: report DC, state capitals see few issues, heavy security amid protest worries Pardon-seekers have paid Trump allies tens of thousands to lobby president: NYT MORE imposes trade levies on imported cars. 

“We hope that it doesn’t come to that and that we can a solution," Malmström told the Swedish newspaper Dagens Nyheter, according to Reuters. 

"If not, the EU Commission is preparing a rather long list of many American goods. It would be around $20 billion,” she said.

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Malmström added that new European tariffs would target "agricultural products, machinery, high-tech products and other things.” 

Malmström also said that she did not take U.S. Treasury Secretary Steven MnuchinSteven MnuchinTreasury imposes additional sanctions on Cuba over allegations of 'serious human rights abuse' Treasury Department sanctions inner circle of Russian agent Derkach for election interference Sanders defends push to impeach Trump: Insurrection won't be tolerated MORE’s proposal to drop tariffs, nontariff trade barriers and subsidies seriously, according to Reuters. 

Malmström's comments came as she joined a EU delegation in Washington for discussions on a long-term trade deal. The talks come as tensions rise between the U.S. and EU nations over tariffs. 

Trump has drawn scrutiny for ordering steep steel and aluminum tariffs in May in response to what he said were national security concerns. 

In addition, Trump threatened to place a 20 percent tariff on all European cars entering the U.S. in June. 

"Based on the Tariffs and Trade Barriers long placed on the U.S. and it great companies and workers by the European Union, if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. Build them here!" Trump tweeted at the time. 

Many U.S. trade partners have said they would respond to Trump's actions, with Canada announcing retaliatory tariffs that targeted U.S. exports earlier this month.