EU Chief Ursula von der Leyen Vows Countermeasures Against US Tariffs

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European Commission President Ursula von der Leyen described U.S. President Donald Trump’s universal tariffs as a significant setback for the global economy, emphasizing that the European Union is prepared to take retaliatory actions if talks with Washington fail. 

In a statement read out in Samarkand on Thursday, ahead of the EU-Central Asia partnership summit, von der Leyen said, "We are finalizing the first package of countermeasures in response to the tariffs on steel." She also mentioned that the EU is preparing further measures to protect its interests and businesses if negotiations do not succeed, though she did not reveal specifics on the upcoming actions. The EU is planning to impose counter-tariffs on U.S. goods worth up to 26 billion euros ($28.4 billion) in retaliation to U.S. steel and aluminum tariffs that went into effect on March 12.

Trump’s announcement on Wednesday of a 10% minimum tariff on most imported goods to the U.S.—with a higher 20% rate for the European Union—has escalated the global trade war, raising concerns about inflation and the potential slowdown of both U.S. and global economic growth.

Von der Leyen expressed regret over the U.S. decision and warned of "immense consequences" for the global economy, particularly for vulnerable nations facing high U.S. tariffs. She pointed out that the situation could lead to rising uncertainty, further protectionism, and higher consumer costs for goods like groceries, medication, and transport, as well as disruptions for businesses.

She also criticized the chaotic and disorganized nature of the tariffs, with no clear direction for resolving the complex issues being created by the measures. Despite this, von der Leyen acknowledged that she agreed with Trump’s view that some countries had exploited global trade rules unfairly, but emphasized that it is still possible to address these concerns through negotiations.

Paraphrasing text from "Reuters" all rights reserved by the original author