Ursula von der Leyen, President of the European Commission, expressed serious concerns over the tariffs imposed by President Trump, stating they could harm the global economy and livelihoods. She emphasized that such universal tariffs indicative of rising protectionism could lead to dire consequences for millions globally. To counteract these tariffs, the EU is preparing measures to protect its interests and businesses, including a package of responses specifically targeting the tariffs on steel and potential further actions depending on negotiations with the US.
President Trump's announcement of universal tariffs on the whole world, including the EU, is a major blow to the world economy.
Uncertainty will spiral and trigger the rise of further protectionism. The consequences will be dire for millions of people around the globe.
We are already finalizing a first package of countermeasures in response to tariffs on steel. And we are now preparing for further countermeasures.
Trump has imposed new tariffs of 20% on imports from the EU after previously slapping tariffs on steel and aluminum imports.
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