EU Leaders Prepare Response to US Tariffs Impacting European Exports
Ursula von der Leyen outlines the EU's united stance and readiness to negotiate amidst impending tariffs on European goods.
In a recent address, Ursula von der Leyen, President of the European Commission, emphasized the unity of Europe in the face of escalating trade tensions with the United States.
Her remarks, delivered in multiple languages, aimed to reassure European citizens, stating that Europe possesses the necessary strength to navigate the current challenges.
Von der Leyen's comments were made shortly after the announcement of a 20% tariff on all imported ‘Made in EU’ products, a measure that aims to impose reciprocal trade barriers from the US.
Von der Leyen highlighted the adverse effects of these tariffs, projecting that millions worldwide, particularly in the most vulnerable countries, would suffer the consequences.
She indicated that the current disorder caused by the US decision could further exacerbate existing global challenges.
Despite acknowledging the significant impact of these tariffs—potentially affecting approximately 70% of European exports to the US, which amount to around €370 billion—the Commission's strategy remains focused on negotiation rather than tariff escalation.
She stated, 'Resorting to tariffs as a first and last resort will not resolve the issue.'
In response, von der Leyen confirmed that the EU is prepared to retaliate.
Early estimates suggest that the US could collect approximately €81 billion from European exports affected by these tariffs—far exceeding the current €7 billion collected from existing tariff arrangements on steel, aluminum, and autos.
The EU anticipates further announcements affecting the pharmaceutical, lumber, and semiconductor sectors in the near future.
Accompanying the rhetoric, António Costa, President of the European Council, reaffirmed his full support for the European Commission in the ongoing trade negotiations with the US. He stressed the importance of ratifying pending agreements with Mercosur and Mexico and advancing discussions with India and other key partners.
Meanwhile, EU Trade Commissioner Maroš Šefčovič is scheduled to hold a video call with his US counterparts to discuss the situation.
He remarked that the EU will 'act calmly, carefully, and in unison' while calibrating its response, allowing sufficient time for discussions.
A comprehensive first package of countermeasures is currently being finalized, aimed specifically at the US tariffs on European steel and aluminum, with an implementation date anticipated around April 15. Lists of US products targeted for counteraction will soon be presented to EU member states, followed by discussions among EU Trade Ministers in Luxembourg.
Additionally, a new package in response to auto tariffs and reciprocal duties could be announced by the end of the month, pending impact assessments.
Von der Leyen has also mentioned the importance of monitoring the indirect effects of these tariffs, stating that the EU will not tolerate global overcapacity or dumping in its market.
All options remain available for response, including potential targeted action against service sectors, which could extend to major technology firms and the financial industry.
The Commission plans to initiate new strategic dialogues with the steel, automotive, and pharmaceutical industries to secure a negotiated solution.
Among EU leaders, there is a consensus for the need to maintain unity, even in light of the challenges posed by the US tariffs.
Polish Prime Minister Donald Tusk characterized the US decision as a 'hard and unpleasant blow' from an ally, while Spanish Prime Minister Pedro Sánchez described the action as a unilateral attack against Europe, announcing a defense package worth €14.1 billion to protect companies and jobs in Spain.
Her remarks, delivered in multiple languages, aimed to reassure European citizens, stating that Europe possesses the necessary strength to navigate the current challenges.
Von der Leyen's comments were made shortly after the announcement of a 20% tariff on all imported ‘Made in EU’ products, a measure that aims to impose reciprocal trade barriers from the US.
Von der Leyen highlighted the adverse effects of these tariffs, projecting that millions worldwide, particularly in the most vulnerable countries, would suffer the consequences.
She indicated that the current disorder caused by the US decision could further exacerbate existing global challenges.
Despite acknowledging the significant impact of these tariffs—potentially affecting approximately 70% of European exports to the US, which amount to around €370 billion—the Commission's strategy remains focused on negotiation rather than tariff escalation.
She stated, 'Resorting to tariffs as a first and last resort will not resolve the issue.'
In response, von der Leyen confirmed that the EU is prepared to retaliate.
Early estimates suggest that the US could collect approximately €81 billion from European exports affected by these tariffs—far exceeding the current €7 billion collected from existing tariff arrangements on steel, aluminum, and autos.
The EU anticipates further announcements affecting the pharmaceutical, lumber, and semiconductor sectors in the near future.
Accompanying the rhetoric, António Costa, President of the European Council, reaffirmed his full support for the European Commission in the ongoing trade negotiations with the US. He stressed the importance of ratifying pending agreements with Mercosur and Mexico and advancing discussions with India and other key partners.
Meanwhile, EU Trade Commissioner Maroš Šefčovič is scheduled to hold a video call with his US counterparts to discuss the situation.
He remarked that the EU will 'act calmly, carefully, and in unison' while calibrating its response, allowing sufficient time for discussions.
A comprehensive first package of countermeasures is currently being finalized, aimed specifically at the US tariffs on European steel and aluminum, with an implementation date anticipated around April 15. Lists of US products targeted for counteraction will soon be presented to EU member states, followed by discussions among EU Trade Ministers in Luxembourg.
Additionally, a new package in response to auto tariffs and reciprocal duties could be announced by the end of the month, pending impact assessments.
Von der Leyen has also mentioned the importance of monitoring the indirect effects of these tariffs, stating that the EU will not tolerate global overcapacity or dumping in its market.
All options remain available for response, including potential targeted action against service sectors, which could extend to major technology firms and the financial industry.
The Commission plans to initiate new strategic dialogues with the steel, automotive, and pharmaceutical industries to secure a negotiated solution.
Among EU leaders, there is a consensus for the need to maintain unity, even in light of the challenges posed by the US tariffs.
Polish Prime Minister Donald Tusk characterized the US decision as a 'hard and unpleasant blow' from an ally, while Spanish Prime Minister Pedro Sánchez described the action as a unilateral attack against Europe, announcing a defense package worth €14.1 billion to protect companies and jobs in Spain.
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Translated by AI
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