The EU has come up with a list of tariffs on a "broad range of industrial and agricultural products" should they fail to reach an agreement in trade negotiations with the US.
The list is a response to Trump's delayed 20% tariff on all goods from the EU and 25% tariff on cars made in the EU, which it described as "unjustified and harmful."
The proposed countermeasures, worth a total of €95bn, include €6.4bn on agricultural products, €10.5bn on aircraft, €10bn on motor parts, €12.5bn on chemicals and plastics, and €7.2bn on electrical equipment.
Ryanair CEO Michael O'Leary, who currently has an order with US airline maker Boeing for 330 aircrafts worth €30bn, has already threatened to look elsewhere should his company be impacted by any trade tariffs.
Irish whiskey makers, who have benefited greatly from access to the US market, will also be worried about this latest announcement from the EU, as Trump earlier in the year said he would increase tariffs on alcohol from the EU to 200% if the trading block imposed measures on Bourdon.
While their pleas were answered back in April, this time around the EU have not listened and has included bourbon whiskey, wine, cider, cars, bicycles, boats, smartphones, cattle, soya, olives and very limited pharmaceuticals on the latest list.
The European Commission President, Ursula Von Der Leyen, said: "Tariffs are already having a negative impact on the global economies.
"The EU remains 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."
The list was released following news that the UK has become the first to strike a deal with the US over trade tariffs, although details of the deal have yet to emerge.
*This article was originally published on BusinessPlus.ie
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