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Luxury Italian sports car manufacturer Ferrari says it is ready for countermeasures if US President Donald Trump imposes hefty tariffs on European auto imports.

“We are ready with some countermeasures,” Ferrari CEO Benedetto Vigna told Cnbc’s Converge Live in Singapore. “We are waiting for the official number to be published,” he added, referring to Trump’s threat of duties “of around 25%” on EU carmakers.

He added:

We will watch what happens over the next month, in the next few weeks. We are in the same boat in terms of tariffs.

The customer is at the centre of our attention.”