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BRUSSELS (AP) 鈥� A top European Union official warned the U.S. on Tuesday that the world鈥檚 biggest trade bloc 鈥渉olds a lot of cards鈥� when it comes to dealing with the Trump administration鈥檚 new tariffs and has a good plan to retaliate if forced to.

U.S. President Donald Trump has promised to roll out taxes on imports from other countries on Wednesday. He says they will free the U.S. from reliance on foreign goods.

He鈥檚 vowed to impose 鈥渞eciprocal鈥� tariffs to match the duties that other countries charge on U.S. products, dubbing April 2 鈥淟iberation Day.鈥�

鈥淓urope has not started this confrontation. We do not necessarily want to retaliate, but if it is necessary, we have a strong plan to retaliate and we will use it,鈥� European Commission President Ursula von der Leyen told EU lawmakers.

The commission, the EU鈥檚 executive branch, negotiates trade deals on behalf of the bloc鈥檚 27 member countries and manages trade disputes on their behalf.

鈥淓urope holds a lot of cards, from trade to technology to the size of our market. But this strength is also built on our readiness to take firm counter measures if necessary. All instruments are on the table,鈥� von der Leyen said, at a European Parliament session in Strasbourg, France.

The commission already intends to impose duties on U.S. goods worth some $28 billion in mid-April in response to Trump鈥檚 steel and aluminum tariffs. The EU duties will target steel and aluminum products, but also textiles, home appliances and farm goods.

A lot remains unknown about how Trump鈥檚 levies will actually be implemented, notably the 鈥渞eciprocal鈥� tariffs, and the EU wants to assess their impact before taking retaliatory action.

鈥淪o many Europeans feel utterly disheartened by the announcement from the United States,鈥� von der Leyen said. 鈥淭his is the largest and most prosperous trade relationship worldwide. We would all be better off if we could find a constructive solution.鈥�