(Bloomberg) -- Caterpillar Inc (NYSE:CAT). trucks, Xerox Corp (NYSE:XRX). machines and Samsonite International SA (OTC:SMSEY) luggage are among U.S. goods that would face retaliatory European Union tariffs should President Donald Trump follow through on a threat to impose automotive duties against the bloc, according to a senior EU official.
The person commented on the condition of anonymity because the retaliatory list drawn up by the European Commission, the EU’s executive arm in Brussels, is still a confidential draft.
Caterpillar reversed a gain in early trading in New York, falling as much as 1 percent on the news. Xerox dropped 0.1 percent.
Caterpillar, which announced earnings last month, had its biggest profit miss in a decade on worries over trade tensions. The Deerfield, Illinois-based company also issued a 2019 profit forecast range which, at the low end, was below the average of analysts’ expectations.