If there is one thing the EU knows about Donald Trump, it is that he loves tariffs. The incoming president has said “tariff” is “the most beautiful word in the dictionary” and has threatened to impose them on US allies around the world.

On the campaign trail he proposed tariffs of 10-20% on imports from all countries, with a 60% rate reserved for China. Once elected, he tweeted that the EU must buy more US oil and gas “otherwise it is TARIFFS all the way!!!” This week, he announced he would create an “external revenue service” on the day of his inauguration.

The European Commission, which leads on trade policy for the EU’s 27 member states, has been preparing for the next US president since last summer. Details of its response to potential tariffs are closely guarded though, and depend on what the volatile incoming president actually does.