The European Union is prepared to retaliate against U.S. tariffs but prefers a negotiated resolution, European Commission President Ursula von der Leyen said. She warned that U.S. tariffs would fuel inflation and harm jobs while urging the EU to remove internal trade barriers.
The European Union has a "robust plan" to respond to tariffs imposed and due to be imposed by U.S. President Donald Trump, although it would prefer to reach a negotiated settlement, European Commission President Ursula von der Leyen stated on Tuesday.
The Trump administration introduced tariffs on imported steel and aluminium in March, with higher duties on cars set to come into force on Thursday. Additionally, Trump is expected to outline plans for "reciprocal tariffs" on Wednesday.
Von der Leyen acknowledged U.S. concerns that global trade rules had been exploited by certain countries, noting that the EU had also faced similar challenges. She further recognised the U.S. ambition to re-industrialise, a goal shared by the EU.
However, she argued that U.S. tariffs effectively serve as taxes on its own consumers, exacerbating inflation and increasing costs for American manufacturers reliant on imported components, ultimately leading to job losses.
"Our aim is a negotiated resolution. However, if necessary, we will safeguard our interests, our citizens, and our businesses," von der Leyen said in an address to the European Parliament in Strasbourg.
"We do not seek retaliation, but if required, we have a robust response plan, and we will implement it."
Von der Leyen also stressed the need for the EU to diversify its trade and eliminate internal barriers that hinder cross-border commerce within its single market.
She cited the International Monetary Fund's assessment that Europe’s internal market barriers equate to a 45% tariff on manufacturing and 110% on services.
Addressing EU lawmakers, she stated that the Commission would present proposals next month aimed at dismantling some of these barriers and preventing the emergence of new ones.
U.S. Vice President JD Vance said the U.S. and Iran left peace talks in Islamabad without reach...
Russia and Ukraine accused each other of violating a 32-hour ceasefire introduced to mark Orthodox Easter on Saturday (11 April). Russian offi...
Israel has reprimanded Spain’s most senior diplomat in Tel Aviv after a giant effigy of Prime Minister Be...
Hungarians vote in elections on Sunday that could see the end of hard right nationalist Prime Minister Viktor Orb&aac...
Nine suspects were arrested on Saturday (11 April) in connection wit...
The U.S., EU and their allies are racing to secure supplies of rare earth elements - essential materials for electric vehicles, wind turbines and advanced technologies - as China maintains a dominant position in processing.
The European Union and Washington are nearing an agreement to coordinate the production and security of critical minerals, Bloomberg News reported on Friday (10 April).
While a fragile ceasefire in the Iran war may deliver badly needed relief to economies battered by the world’s worst-ever energy crisis, hopes it will quickly restore normal oil and gas flows from the Middle East are almost certainly misplaced.
NATO Secretary General Mark Rutte said on Wednesday he believes that some NATO countries were tested and failed amid Washington's criticism over European allies not getting involved in the U.S. and Israel's war against Iran.
Hungarians vote in elections on Sunday that could see the end of hard right nationalist Prime Minister Viktor Orbán’s more than 15 year rule. Opinion polls show Orbán’s Fidesz party trailing 45-year-old Péter Magyar’s centre-right opposition Tisza party.
U.S. and Iranian negotiators held their highest-level talks in half a century in Pakistan on Saturday in an effort to end their six-week war, as President Donald Trump said the U.S. military had begun the process of clearing the Strait of Hormuz.
Amid fragile calm, António Guterres urged constructive U.S.- Iran talks, while Pope Leo XIV warned violence is spreading. Lebanon's President said an Israeli strike killed 13 security personnel in Nabatieh.
Donald Trump’s flagship plan for post-war Gaza has come under scrutiny after reports that its financing is falling short of expectations, claims firmly rejected by the White House-backed Board of Peace.
At least 30 people were killed on Saturday in a stampede at Haiti’s Laferrière Citadel World Heritage Site, with authorities warning that the death toll could rise.
Israel has reprimanded Spain’s most senior diplomat in Tel Aviv after a giant effigy of Prime Minister Benjamin Netanyahu was blown up in a Spanish town.
Russia and Ukraine accused each other of violating a 32-hour ceasefire introduced to mark Orthodox Easter on Saturday (11 April). Russian officials said Ukrainian drones attacked targets in the Kursk and Belgorod border regions, injuring five people.
The U.S., EU and their allies are racing to secure supplies of rare earth elements - essential materials for electric vehicles, wind turbines and advanced technologies - as China maintains a dominant position in processing.
At least 30 people were killed on Saturday in a stampede at Haiti’s Laferrière Citadel World Heritage Site, with authorities warning that the death toll could rise.
Hungarians vote in elections on Sunday that could see the end of hard right nationalist Prime Minister Viktor Orbán’s more than 15 year rule. Opinion polls show Orbán’s Fidesz party trailing 45-year-old Péter Magyar’s centre-right opposition Tisza party.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment