Europe is ready to respond should US President Donald Trump follow through on his threat to raise tariffs on cars and trucks from the European Union to 25%, according to Eurogroup President Kyriakos Pierrakakis.

“The number one choice is always dialogue — we want to be a predictable partner in the international economy, we believe in the transatlantic relationship,” he told Bloomberg Television. “But having said this, if there is a deviation from what we have agreed upon, obviously all options are on the table and all choices will be on the table.”