Ursula von der Leyen has defended the EU-U.S. tariff agreement, calling it a "conscious decision" that prevented a trade war, while responding to Mario Draghi's criticism of the EU's influence in global trade.
Ursula von der Leyen has reaffirmed that the tariff agreement between the EU and the US was a "conscious decision" that successfully avoided a trade war. The European Commission President addressed the issue in an article published on Sunday in several European newspapers, including Italy’s Il Sole 24 Ore and Germany’s Frankfurter Allgemeine Zeitung. Her comments were partly a response to criticism from former ECB chief and ex-Italian Prime Minister Mario Draghi, who had criticized the EU’s perceived "absence" on tariffs and trade wars in a speech on Friday.
In the article, von der Leyen argued, “Imagine if the two largest economies in the democratic world had failed to reach an agreement and started a trade war. This would have been celebrated only in Moscow and Beijing.” Regarding the 15% cap on US tariffs covering a range of products such as cars, pharmaceuticals, semiconductors, and timber, she described the agreement as "good, if not perfect." She reminded readers that tariffs are essentially taxes that burden both consumers and businesses, raising costs, reducing choice, and weakening the competitiveness of economies.
Von der Leyen also pointed out that the deal with the Trump administration provided Europe with other trade benefits. However, she emphasized that the EU is working to diversify its export markets. "We’ve recently concluded trade agreements with Mexico and Mercosur, strengthened relations with Switzerland and the UK, and completed talks with Indonesia. We aim to finalize a deal with India by year’s end," she wrote. In conclusion, von der Leyen called for a "strong and independent" Europe, urging the completion of the single market and bolstering competitiveness and sustainability.
Mario Draghi, meanwhile, had warned at the annual Rimini Meeting on Friday that "for years, the European Union believed that its economic size, with 450 million consumers, brought with it geopolitical power and influence in international trade relations. This year will be remembered as the year in which this illusion evaporated." Last year, Draghi presented a report outlining ideas to accelerate the EU’s economic growth, stressing the need for adaptation to ensure the bloc’s survival.
AnewZ has premiered The Oligarch’s Design, a long-form investigative documentary marking the launch of AnewZ Investigations, the channel’s new edi...
The foreign ministers of Cambodia and Thailand have told Chinese Foreign Minister Wang Yi that they are willing to pursue a ceasefire, as tensions fla...
The Conservative Party says it would cut funding for green energy projects and redirect the money into defence, arguing the UK needs to be ready for w...
Kazakh President Kassym-Jomart Tokayev’s first official visit to Japan marks a notable moment in relations between the two countries, reflecting a s...
An international scientific-practical congress marking the 90th anniversary of the Azerbaijan State Advanced Training Institute for Doctors named afte...
The foreign ministers of Cambodia and Thailand have told Chinese Foreign Minister Wang Yi that they are willing to pursue a ceasefire, as tensions flared along parts of the two countries’ shared border.
Kazakh President Kassym-Jomart Tokayev’s first official visit to Japan marks a notable moment in relations between the two countries, reflecting a shared interest in deepening cooperation.
The United States has suspended the Diversity Visa Lottery programme, commonly known as the Green Card lottery, after a deadly shooting at Brown University.
The European Union is facing mounting political pressure over its ability to keep Russian sovereign assets frozen, as internal divisions, leadership changes and war fatigue reshape decision-making across the bloc.
Ukraine has welcomed the European Union’s decision to provide €90 billion in support over the next two years, calling it a vital lifeline even as the bloc failed to reach agreement on using frozen Russian assets to finance the aid.
European Union foreign policy chief Kaja Kallas has warned that attempts to reach a peace agreement in Ukraine are being undermined by Russia’s continued refusal to engage meaningfully in negotiations.
Petroleum products are being transported by rail from Azerbaijan to Armenia for the first time in decades. The move is hailed as a tangible breakthrough in efforts to normalise relations between the long-time rivals.
U.S. President Donald Trump delivered a wide-ranging address from the White House in which he sought to highlight what he described as his administration’s achievements while laying the groundwork for his plans for the year ahead and beyond, on Wednesday (18 December).
A rare pair of bright-green Nike “Grinch” sneakers worn and signed by the late NBA legend Kobe Bryant have gone on public display in Beverly Hills, ahead of an auction that could set a new record for sports memorabilia.
The foreign ministers of Cambodia and Thailand have told Chinese Foreign Minister Wang Yi that they are willing to pursue a ceasefire, as tensions flared along parts of the two countries’ shared border.
The Conservative Party says it would cut funding for green energy projects and redirect the money into defence, arguing the UK needs to be ready for war.
The European Union is facing mounting political pressure over its ability to keep Russian sovereign assets frozen, as internal divisions, leadership changes and war fatigue reshape decision-making across the bloc.
Kazakh President Kassym-Jomart Tokayev’s first official visit to Japan marks a notable moment in relations between the two countries, reflecting a shared interest in deepening cooperation.
The long-running geopolitical tug-of-war over the world’s most popular short-form video application appears to have reached its finale, resolving a five-year saga that bridged two US presidencies and a brief nationwide service blackout.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment