BRUSSELS -- The European Union would retaliate with extra duties on 35 billion euros ($39.1 billion) worth of U.S. goods if Washington went ahead with tariffs on EU cars, the bloc's trade chief said.
"We will not accept any managed trade, quotas or voluntary export restraints and, if there were to be tariffs, we would have a rebalancing list," European Trade Commissioner Cecilia Malmstrom said.
"It is already basically prepared, worth 35 billion euros. I do hope we do not have to use that one," Malmstrom told a committee of the European Parliament on Tuesday.
