EU promises countermeasures to Trump tariffs - Von der Leyen calls for negotiations, warns of global consequences
The European Union is preparing measures to counter the latest tariffs by US President Donald Trump if negotiations with the White House fail, European Commission President Ursula von der Leyen said on Wednesday. The US administration imposed 20% tariffs on the bloc a day earlier.
Speaking in a live broadcast, the EC president said Trump's move was a "huge blow" to the global economy, which would have repercussions.
"There seems to be no order being established in the chaos, no clear path out of the complexity that is being created, as all of the US's trading partners have been hit," von der Leyen said.
The EU leader warned of "major consequences", saying the effect would be felt immediately and that consumers around the world, as well as businesses, would be negatively affected.
"Uncertainty will deepen and cause further protectionism to rise, with dire consequences for millions of people around the globe, including the most vulnerable countries, which are now subject to some of the highest US tariffs," she said.
Von der Leyen called for negotiations, saying the bloc would work towards lowering barriers, not raising them. “It is not too late to address concerns through negotiations,” she said. “Let’s move from confrontation to negotiations.”
The European Commission President said she agreed with Trump that some countries were taking unfair advantage of current world trade rules. She stressed that the EU was ready to support efforts to make the world trading system "fit for the realities of the global economy."
However, she also warned that “tariffs as a first and last resort will not fix the market.”
The European Union imposed counter-tariffs against US measures on aluminum and steel, worth 26 billion euros.
The previously suspended duties, which were partially in effect during Trump's first term as president, are set to be reimposed along with a series of additional duties on further goods.
Industrial-grade steel and aluminum, along with their derivative products, were part of the measure. A range of other products such as whiskey, agricultural products, leather goods, household appliances and more were also on the EU list. After a delay, the tariffs are expected to take effect in mid-April.
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