Brussels has the tools to hit back at the United States for its latest round of tariffs, France’s trade minister Nicolas Forissier told the Financial Times on Saturday.
Paris was in talks with EU counterparts and the European Commission over US President Donald Trump’s decision to impose a flat global tariff of 10% (which he increased later to 15%), after the US Supreme Court ruled that many of the existing tariffs he had levied on trading partners were illegal, Forissier said.
“Should it become necessary, the EU has the appropriate instruments at its disposal,” Forissier told the FT.
READ MORE: Trump furious after Supreme Court upends his global tariffs, imposes new 10% levy
The EU response could include options such as the “trade bazooka”, an anti-coercion instrument (ACI) that could affect US technology companies, the newspaper said, citing French officials.
The ACI has a broad range of powers from export controls to tariffs on services, as well as excluding US companies from EU procurement contracts, it said.
There is also a suspended package of retaliatory tariffs on more than 90 billion euros ($106 billion) of US goods that could be deployed, the report added.
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