The European Union (EU) is ready to negotiate tariffs on cars with the US as part of a broader deal with US President Donald Trump that could include technology regulation. This was announced by Maros Sefcovic, the EU Commissioner for Trade and Economic Security, reports Politico.

“This would be something we are ready to discuss,” Sefcovic said at an event hosted by the American Enterprise Institute.

“I know that President Trump is a big dealmaker, and there was an idea to have a kind of impressive ‘Grand Bargain’ package. So let’s discuss all these things … because I am a true believer in the transatlantic relationship,” the European trade commissioner said.

At the same time, Brussels will take retaliatory measures if Trump follows through on his threats to impose large-scale tariffs, Sefcovic said.

“To protect European interests, we will have no choice but to respond firmly and strictly but we do hope to avoid the scenario,” the European trade commissioner added.

As previously reported, the White House is considering imposing a 10 percent tariff on all goods the US imports from the EU.