US agri-food exports will be hit by tariffs if an agreement cannot be reached on the White House’s plans to tariff EU goods, under European Commission proposals.

Countermeasures list beef, sheepmeat, pigmeat, poultry and cereal products in the extensive list of goods Brussels wants to hit back with if the US slaps tariffs on EU goods as planned.

Farm machinery and industrial goods worth €95bn would also be among the US goods targeted by the EU in retaliation.

The commission must put the goods to public consultation and get agreement with member states to have the proposed counter-tariffs ready for use if talks with the US “do not produce a satisfactory result”.

The commission’s move follows US president Donald Trump’s announcement on 2 April that EU exports to the US would face a 20% tariff.

A 90-day pause which has seen an interim 10% tariff rate in place on EU goods was subsequently announced by Washington as talks commenced on a potential trade agreement to resolve the tariff dispute.

Inflation

The commission said this week that the US’s tariff moves are already “raising costs for business, stifling growth, fuelling inflation and heightening economic uncertainty”.

Commission president Ursula von der Leyen stated on Thursday that the EU is “fully committed to finding negotiated outcomes with the US”.

“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, and the consultation launched today will help guide us in this necessary work,” she said.

The EU has also lodged a request for consultations with the World Trade Organisation, claiming that the US tariff plans “blatantly violate” international trade rules.