"EU ready for strong measures against the US" - Von der Leyen warns Trump about the consequences of reciprocal tariffs
The European Union has "many resources" that can be used to negotiate and, if necessary, counter US President Donald Trump's sweeping reciprocal tariffs, European Commission President Ursula von der Leyen said on the eve of what the US leader called "Liberation Day".
Trump has antagonized allies and rattled stock markets by saying his tariffs would target "all countries" without exceptions.
For the bloc, the reciprocal tariffs would follow 25% tariffs on steel, aluminum and car exports. The European Commission has proposed countermeasures, but has delayed their introduction until mid-April.
On the eve of a new tariff set, the Commission strengthened its tone and said its response would recognize no red lines.
"Let me be clear: Europe did not start this confrontation. We think it is wrong," von der Leyen told the European Parliament.
"We have everything we need to protect our people and our prosperity. We have the largest single market in the world. We have the strength to negotiate. We have the power to push back. And the people of Europe should know: together we will always promote and defend our interests and values," she stressed.
The Commission president said the tariffs would raise prices for everyday consumers, destroy jobs, create a "bureaucratic monster" at customs and be a "nightmare" for American companies selling their goods in Europe. She also predicted that the duties would run counter to Trump's much-touted agenda to reindustrialize America.
During the speech, von der Leyen insisted that the Commission's aim would be a "negotiated solution" to prevent what is rapidly shaping up to be an all-out trade war between the two sides of the Atlantic. According to analysts, this is expected to have disastrous economic consequences at a time of increased global uncertainty.
"We will approach these negotiations from a position of strength. Europe has many cards to play: from trade to technology to the size of our market," von der Leyen said. However, she added, if these talks fail to reach a compromise, Brussels will not hesitate to take "strong countermeasures."
Commission officials have already signaled that the potential response could go beyond the traditional standard for goods and include services, which have so far remained untouched. In 2023, the EU recorded a goods surplus with the US worth €156.6 billion, but a services deficit worth €108.6 billion.
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