US weighing new tariffs on $3.1 billion worth of European goods, with products like olives, beer, gin, and planes on the list

• The Trump administration is weighing tariffs on about $3.1 billion worth of imports from the UK, Spain, Germany, and France.
• A notice published on Tuesday night said products being considered for tariffs included cheese, planes, beer, and gin.
• The trade scrap between the European Union and the US began over subsidies given to major aviation companies.
• The World Trade Organization last year gave the US the green light to slap $7.5 billion worth of tariffs on the EU, mainly targeting the aviation giant Airbus. It's expected to soon allow the EU to adopt a tit-for-tat response over the US's government support for Boeing.
• President Donald Trump's top trade official, Robert Lighthizer, said in May that there was "no valid basis" for the EU to retaliate against US goods.

The US is considering tariffs on about $3.1 billion worth of imports from the UK, Spain, Germany, and France, paving the way for a fresh trade showdown with Europe amid rising fears that the US's trade deal with China is in trouble.

The Office of the US Trade Representative said in a notice published Tuesday night that it was considering imposing the tariffs on products such as planes, cheese, yogurt, frozen hams, olives, beer, and gin, as well as many others. Bloomberg first reported on the notice.

The notice said a monthlong public-comment period would end on July 26, when the US would likely impose the tariffs.

Trade tensions between the US and Europe have escalated since the World Trade Organization found that Airbus and Boeing, the two largest planemakers, benefitted from billions of dollars' worth of unfair subsidies in different cases dating back to 2004, Reuters reported in May. Airbus is based in France, while Boeing is in the US.

In October, the WTO gave the US the go-ahead to levy roughly $7.5 billion worth of tariffs on the European Union affecting aircraft parts and luxury goods. The move was seen as a major win for US President Donald Trump.

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The WTO is expected to soon allow the EU to adopt a tit-for-tat response and give the EU similar rights in another case involving the US government's support of Boeing.

A carousel of retaliation

The Tuesday notice was the latest example of the Trump administration's tactic of "carousel retaliation," or a regular rotation of goods targeted for tariffs.

Bloomberg reported that Trump's top trade official, Robert Lighthizer, said he was increasing tariffs to persuade the EU to agree to a settlement.

Earlier this year, the US increased tariffs on imports of Airbus aircraft and parts to 15% from 10%.

According to Bloomberg, EU Trade Commissioner Phil Hogan told European trade ministers in June: "The US has stepped back from the settlement talks in recent weeks. If this remains the case, the EU will have little choice but to exercise its retaliation rights and impose our own sanctions."

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Lighthizer said in May that the US had implemented the WTO's recommendations and that there was "no valid basis" for the EU to retaliate against US goods.

"We will continue to press the EU to negotiate a resolution that respects the WTO's findings," Lighthizer said.