The European Union has threatened to impose tariffs on U.S. products, including aircraft and car parts, if trade negotiations fail. After weeks of discussions that have not led to an agreement, the EU is prepared to target over $100 billion worth of American goods. The tariffs would be a response to U.S. levies previously imposed by the Trump administration. The EU hopes that the threat of tariffs, along with potential trade concessions, will encourage progress in negotiations and includes proposals for increasing LNG imports and tariff reductions.
"We believe there are good deals to be made for the benefit of consumers and businesses on both sides of the Atlantic," said Commission President Ursula von der Leyen.
An E.U. official stated that ongoing negotiations are still a priority but that the bloc seeks to keep countermeasures in our back pocket.
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