European Trade Commissioner Cecilia Malmstrom said today that EU is ready to retaliate with extra tariff on EUR 35B in US imports, if the latter goes ahead with tariffs on EU cars.

She added, “we will not accept any managed trade, quotas or voluntary export restraints and, if there were to be tariffs, we would have a rebalancing list.”

And, “it is already basically prepared, worth 35 billion euros. I do hope we do not have to use that one.”

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