EU Prepares Countermeasures Against New U.S. Tariffs, Warns of Global Economic Impact
European Commission President Ursula von der Leyen has strongly criticized U.S. President Donald Trump’s recent universal tariffs, describing them as a major blow to the global economy. She stated that the European Union is ready to respond with countermeasures if negotiations with the U.S. fail. These measures will include tariffs on up to €26 billion ($28.4 billion) worth of U.S. goods, set to take effect in mid-April, following the imposition of U.S. steel and aluminum tariffs earlier in March.
Trump’s announcement of a new 10% tariff on most imports, including a higher 20% tariff for European Union goods, has prompted concern in Europe. Von der Leyen highlighted the EU’s readiness to escalate the situation with additional countermeasures, though she did not specify their nature. A French government spokesperson indicated that these measures could extend to services, particularly digital services, and would be finalized by the end of April.
As EU officials prepare for talks, Italian Prime Minister Giorgia Meloni emphasized the importance of reaching a deal with the U.S. to avoid a full-blown trade war but did not dismiss a potential European response. The issue is expected to dominate discussions among EU trade ministers when they meet in Luxembourg. While the EU faces limited options for retaliation compared to the U.S., it is unlikely to target U.S. oil and gas exports or pharmaceuticals, which make up a significant portion of U.S. imports into Europe.
Economists suggest the EU should adopt a more strategic and targeted approach to its countermeasures to maximize political impact in the U.S. The ongoing dispute over tariffs highlights broader trade issues, including EU regulations on taxes and public health, which Trump argues create barriers to U.S. products. The EU has warned that if tariffs continue, it could harm both economies, with potential long-term consequences for growth. Despite the tensions, Von der Leyen remained hopeful that negotiations could resolve the dispute before it escalates further.
Source: Reuters