The European Union is gearing up to implement further countermeasures in response to the recently imposed tariffs by the United States, as stated by European Commission President Ursula von der Leyen. This announcement comes on the heels of U.S. President Donald Trump imposing a significant 20% tariff on goods from the EU, which has raised concerns about economic stability and global trade dynamics.
During a livestreamed broadcast, von der Leyen described Trump's tariff decision as a substantial blow to the world economy. She expressed her dismay at the current state of international trade, noting, "There seems to be no order in the disorder, no clear path to the complexity and chaos that is being created." This sentiment reflects the fears that the chaos will affect not only U.S. trading partners but also millions of people worldwide, particularly those in the most vulnerable countries facing the highest tariffs.
Von der Leyen emphasized the need for dialogue, urging that the EU is committed to reducing trade barriers rather than escalating them. She acknowledged some merit in Trump's concerns, stating that certain countries may be taking unfair advantage of existing trade rules. However, she cautioned that relying on tariffs as the primary solution will not address the broader issues at hand. "Reaching for tariffs as your first and last tool will not fix it," she warned.
The European Union's stance is further underscored by its announcement of retaliatory tariffs following last month's imposition of U.S. tariffs. This move is aimed at protecting European workers and consumers from the adverse effects of U.S. trade policies. The EU has indicated its intention to introduce counter-tariffs on U.S. goods valued at approximately 26 billion euros ($28 billion).
Previously suspended duties, which were partially in place during Trump's first term, are set to be reintroduced. The upcoming tariffs will likely include industrial-grade steel and aluminum, along with a range of semi-finished and finished products. Additionally, derivative commercial products like machinery parts and knitting needles are also on the tariff list. Beyond these items, the EU has identified various other products, including bourbon, agricultural goods, leather products, home appliances, and more.
After a brief postponement, the EU expects these tariffs to take effect around mid-April. As global trade continues to face uncertainty, the situation remains fluid, with both the EU and the U.S. navigating complex economic challenges that could redefine international trade relations in the coming months.
