The European Union (EU) plans to impose retaliatory tariffs on the US, or restrict the activities of American companies on its territory, if Washington imposes 10 percent tariffs on eight European countries over their position on Greenland, Der Spiegel and Reuters reported on Sunday evening, citing their sources.

The President of the European Council, Antonio Costa, said that a special summit of the heads of EU member states will be held in Brussels in the coming days to develop a joint EU response to the threats from the US. According to Reuters, the summit is scheduled for Thursday.

One of these scenarios assumes that retaliatory tariffs will be imposed on whiskey, aircraft parts, soybeans, poultry and some other American goods, the total amount of which will be €93 billion, ERR reported. And they could enter into force automatically.

It became known earlier that the transatlantic trade agreement between the EU and the US will not be approved by EU lawmakers after threats by US President Donald Trump to impose 10 percent tariffs on the UK, Germany, Denmark, the Netherlands, Norway, Finland, France, and Sweden.

The agreement provided for the imposition of 15 percent US tariffs on EU imports in exchange for the EU eliminating tariffs on US exports.