European Union countries approved a package of retaliatory tariffs on U.S. goods that could start in August if no trade agreement is reached. The list covers more than $100 billion worth of annual U.S.

The European Commission plans to submit counter-tariffs on 93 billion euros ($109 billion) of U.S. goods for approval to EU members, while its trade chief will hold talks with U.S. Commerce Secretary Howard Lutnick.

The European Union is exploring a broader set of possible counter-measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats. An increasing number of EU members,