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.
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China's commerce ministry said negotiations with the European Union over a minimum price plan for China-made electric vehicles (EVs)have restarted and would continue into next week, while urging the bloc not to talk independently with manufacturers.
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The European Union is close to finalizing a plan to finance Ukraine’s defence in 2026 and 2027, using frozen Russian assets held across Europe, EU summit chairman Antonio Costa said on Tuesday.
Ukraine is set to present a revised 20-point peace plan to the United States today, as President Volodymyr Zelenskyy and key European leaders work to steer Washington’s ceasefire framework away from concessions they fear could lock in Russian territorial gains.
Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
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China’s Ministry of Foreign Affairs has urged Afghanistan and Pakistan to resolve their tensions through dialogue and engagement, as it pledged to work with the international community to help improve relations between the two countries.
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