The European Union warned that it may implement countermeasures against President Donald Trump’s tariffs.
European Commission President Ursula von der Leyen said the tariffs were a “major blow to the world economy,” claiming the “global economy will massively suffer.”
“The cost of doing business with the United States will drastically increase. And what is more, there seems to be no order in the disorder. No clear path through the complexity and chaos that is being created as all US trading partners are hit,” she said, arguing that the tariffs will lead to higher costs of groceries and medication and increase inflation.
“I agree with President Trump, that others are taking unfair advantage of the current rules,” von der Leyen stated. “And I am ready to support any efforts to make the global trading system fit for the realities of the global economy. But I also want to be clear: Reaching for tariffs as your first and last tool will not fix it.”
“We are already finalising a first package of countermeasures in response to tariffs on steel,” she noted. “And we are now preparing for further countermeasures, to protect our interests and our businesses if negotiations fail. We will also be watching closely what indirect effects these tariffs could have, because we cannot absorb global overcapacity nor will we accept dumping on our market.”
“We have already announced new measures to support the steel and cars sectors. Last week, we limited the amount of steel that can be imported to Europe tariff-free,” von der Leyen noted. “This will give more breathing space to these strategic industries. Now we will also convene Strategic Dialogues with the steel, the automotive and the pharmaceutical sector. And others will follow.”
The statement came in response to Trump’s announcement of a tariff plan. The initiative aims to bolster domestic manufacturing by imposing significant tariffs on foreign imports.
The plan introduces a baseline 10% tariff on nearly all imported goods. Specific tariffs target certain regions: 20% on European Union imports, 54% on Chinese goods, and 25% on foreign-made automobiles. These measures are designed to address longstanding trade imbalances and encourage companies to establish operations within the United States.
