Malmström added that if the US removes its tariffs, the European taxes would also be lifted.
The European Union on Friday is to slap tariffs on $US3.4 billion in American products, from whiskey and motorcycles to peanuts and cranberries.
Canada said its tariffs of up to 25% on almost $13 billion of American products will take effect on July 1.
"We don't want to do anything that would harm consumers", he said.
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The U.S. tariffs hit some $7.5 billion of European products; the EU says that today's measures target almost half that figure, and that it plans to impose a slightly larger block of tariffs later - either in three years, or if/when the WTO rules in its favor.
China is "fully prepared" to respond to any new list of United States tariffs, according to a commerce ministry spokesman, who said the nation will use a combination of quantitative and qualitative measures.
However, many lawmakers have expressed concerns that the tariffs will escalate into a trade war that will ultimately hurt American interests.
According to the China Daily, the United States is trying to preserve the global economic system, which is working to America's benefit.
However, the European Union has introduced a 50% duty on goods such as footwear, some types of clothing and washing machines. All told, the $450 billion in potential tariffs would cover almost 90 percent of goods China sends to the United States. "We're going to fix the problem of protectionism around the world, and we're going to fix it by making it more painful for those countries to do bad practices than to do the right thing, which is to lower the trade barriers and lower their tariffs".