The announcement of US President Donald Trump’s global tariffs caused consternation across the European Union (EU). The bloc was hit with 20% tariffs.
European Commission President Ursula von der Leyen on Thursday decried the White House announcement, warning that “the global economy will massively suffer.”
” All businesses – big and small – will suffer from day one,” von der Leyen said, adding that tariffs would bring greater uncertainty and that “the cost of doing business with the United States will drastically increase.”
EU to announce countermeasures
Von der Leyen said the past 80 years of trade relations between Europe and the US had created millions of jobs and benefited consumers and businesses alike.
But the EU Commission chief said the 27-member bloc was ready to defend itself against the tariff measures.
“We are already finalizing a first package of countermeasures in response to tariffs on steel,” von der Leyen said, adding that the EU is also preparing for further countermeasures “to protect our interests and our businesses if negotiations fail.”
“As Europeans, we will always promote and defend our interests and values. And we will always stand up for Europe,” von der Leyen vowed.
Germany’s Scholz blasts ‘fundamentally wrong’ tariffs
In Germany, politicians from all stripes condemned the move. Chancellor Olaf Scholz said the tariffs would damage the entire global economy and were based on false thinking.
“The recent tariffs decision by the US president is in my view fundamentally wrong,” Scholz said
Outgoing German Economy Minister Robert Habeck of the Greens said it was “an extraordinary day for the world economy, comparable to the situation after the Russian aggression against Ukraine.”
Even the far-right Alternative for Germany, a right-wing populist party typically friendly to the Trump administration, criticized the US move, saying it was “poison for free trade.” The party called for negotiations to avert a trade war rather than countermeasures.
Macron calls for suspension of US investment
French President Emmanuel Macron said Trump’s tariffs are “brutal and unfounded” and would make the US “weaker and poorer.”
He said the tariffs would have a “massive impact” on the European economy and favored a strong response.
“Future investments, investments announced in the last weeks, should be suspended for a time for as long as the situation with the United States is not clarified,” Macron said on Thursday.
“What would be the message if big European actors invest billions of euros in the US economy at the very moment they are hitting us?” Macron said, calling on Europe to stand together.
Source : https://www.dw.com/en/europe-prepares-countermeasures-to-trump-tariffs/a-72132212
