The European Union’s top trade negotiator reportedly said that if U.S. President Donald Trump moves forward with broader tariffs, including on sectors such as pharmaceuticals, it could collect more than $100 billion in taxes from European imports.

The European Union expects President Donald Trump’s trade investigations to boost the amount of the bloc’s goods facing US tariffs to €549 billion ($622 billion), escalating the transatlantic conflict as the two sides are trying to negotiate a reduction in levies.

Tariffs imposed by US President Donald Trump will affect approximately 97% of the European Union’s total exports to the US, Politico informs. The head of the EU’s trade representation, Maroš Šefčovič,