(Alliance News) - The European Commission on Thursday unveiled plans to impose additional tariffs on US imports worth around EUR95 billion if negotiations with Washington do not lead to a solution to the trade conflict.

A list of targeted products published on Thursday covered industrial and agricultural goods.

Additionally the commission is consulting with capitals "on possible restrictions on certain EU exports of steel scrap and chemical products to the US worth EUR4.4 billion," a press release read.

"The EU remains fully committed to finding negotiated outcomes with the US," said European Commission President Ursula von der Leyen.

"We believe there are good deals to be made for the benefit of consumers and businesses on both sides of the Atlantic. At the same time, we continue preparing for all possibilities," von der Leyen added.

In April US President Donald Trump paused special levies on imports from most trading partners including the EU for 90 days, prompting the bloc to suspend its planned countertariffs to allow for further talks.

The commission also announced that it will initiate proceedings against the US at the World Trade Organization, WTO, over Trump's tariffs.

Earlier this week EU Trade Commissioner Maros Sefcovic warned that the US might impose new tariffs on European exports, targeting up to 97% of exported goods.

In addition to an ongoing investigation on lumber, the US administration recently opened six further investigations to determine the effect of imports on national security, said Sefcovic.

The additional targeted sectors include pharmaceutical products, semiconductors, critical minerals, and trucks and truck parts, he said.

If all these investigations lead to additional tariffs, 97% of EU exports to the US would be subject to import duties representing a trade volume of EUR549 billion, he said.

By Doris Pundy

source: dpa

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