THE European Commission has drawn up a list of U.S. imports worth around 20 billion euros (US$22.6 billion) that it could hit with tariffs over a transatlantic aircraft subsidy dispute, EU diplomats said Friday.

President Donald Trump last week threatened to impose tariffs on US$11 billion worth of European Union products over what Washington sees as unfair subsidies given to European planemaker Airbus.

The EU measures would relate to the bloc’s World Trade Organization complaint over subsidies to rival Boeing.

WTO arbitrators have yet to set final amounts of potential countermeasures in each case.

The commission said that it had begun preparatory work on countermeasures in the Boeing case. However, it signaled it was open for talks with the United States provided these were without preconditions and aimed to achieve a fair outcome.

EU diplomats said the commission was expected to publish a list of products April 17 and begin a process of public consultation, after which the list could then be adjusted.

The final amount decided by the WTO arbitrator could also be lower. The EU had also initially requested that the WTO authorize countermeasures of US$12 billion.

The arbitrator’s decision may not come before March 2020. In the U.S. case a WTO decision could come in June or July this year. “You could say the commission is preparing early, provoked by the United States,” one EU diplomat said.

The dispute between the United States and Europe over mutual claims of illegal aid to plane giants to help them gain advantage in the world jet business has dragged on for year.

The case, which has been grinding its way through the WTO for almost 15 years, is approaching the final stages of arbitration after partial victories for both sides.

The EU is expected this week to give final clearance to the start of formal trade talks with the United States. (SD-Agencies)