The European Union is planning to counter President Donald Trump’s efforts to lure companies to the US by easing the bloc’s regulatory burden on sectors from autos to chemicals to aeronautics.

The European Union has prepared a list of American goods that may be subject to new tariffs in response to the tariff policy of US President Donald Trump, according to Politico. On Thursday, the European Commission proposed countermeasures against US tariffs on nearly 100 billion euros of American imports.

The European Commission has initiated consultations on a list of goods valued at €95 (CAD 148) billion imported from the USA, which could be subject to retaliatory tariffs by the EU if an agreement with Washington is not reached.