Brussels [Belgium], April 3 (ANI): European Commission President Ursula von der Leyen announced Thursday that the EU is preparing countermeasures in response to US President Donald Trump’s new tariffs, urging Washington to shift from “confrontation to negotiation.”
Key EU Responses:
- The EU is finalizing its first countermeasure package focused on retaliatory tariffs against US steel.
- Additional countermeasures are being prepared to protect European businesses if negotiations fail.
- The EU will also monitor the indirect effects of US tariffs, especially concerns about market dumping and overcapacity.
Trump’s Tariffs & EU Reaction:
- The US imposed a minimum 10% tariff on all imports, with the EU among 60 “worst offenders” facing a 20% tariff.
- A 25% tariff on foreign-made automobiles was also announced with immediate effect.
- Sweden and Ireland expressed regret, warning that trade barriers could hurt economies.
- Swedish PM Ulf Kristersson: “We don’t want a trade war, but we are prepared for it.”
- Ireland’s Tanaiste Simon Harris: “The EU must respond in a calm but firm manner.”
Von der Leyen’s Standpoint
- While acknowledging unfair global trade practices, she insisted: “Reaching for tariffs as your first and last tool will not fix it. Let’s move from confrontation to negotiation.”
- The EU is considering tariff measures on US products—including previously suspended 2018 tariffs.
Economic Impact & Strategic Considerations
- The EU had a €156.6 billion goods surplus with the US in 2023, but a €108.6 billion services deficit.
- Von der Leyen emphasized that the EU has leverage in trade and technology negotiations.
- The EU-Central Asia Summit in Uzbekistan may play a role in shaping Europe’s broader economic strategy.
The coming days will determine whether the EU and US head towards escalation or negotiation. (ANI)
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