The Reagan administration announced Tuesday that it will impose trade sanctions valued at $100 million on a variety of European food products if the European Community goes forward with a threatened ban on imports of American meat treated with growth hormones. The action would steeply increase prices of selected foreign imports for American consumers, including some meats, beverages and pet foods. U.S. Trade Representative Clayton Yeutter said higher import duties, which would double the wholesale price for the goods entering the United States, would go into effect at 12:01 a.m. on Jan. 1. "I regret that the United States is forced to retaliate against the European Community's ban on meat treated by growth hormones," Yeutter said in a statement. "Despite the EC's claim that the animal hormone ban is based on health concerns, the EC has yet to present any evidence."