The European Commission announced Thursday it has compiled a list of imported goods and items from the United States which could become subject to tariffs.

The European Commission opened a public consultation on Thursday on products which could be hit by its new counter-measures to U.S. tariffs should negotiations with Washington fail.

The EU trade chief said U.S. tariffs now covered 70% of EU goods trade to the United States and that could rise to 97% after further U.S. investigations into pharmaceuticals, semiconductors and other products. Sefcovic said a negotiated solution with the United States remained the EU's clear and preferred outcome.