European Union Executive Secretary Ursula von der Leyen said the Bloc has a “strong plan” to retaliate against President Donald Trump’s tariffs, but that preference is a “negotiated solution.”
Speaking before Trump’s scheduled mutual tariff announcement later this week, European Commission President von der Leyen said that Europeans were “completely disappointed” with trade salvos coming from the United States.
“Let me be clear. Europe has not launched this conflict. I think it’s wrong. But my message to you today is that we have everything we need to protect people and prosperity,” von der Leyen told a session in the European Parliament on Tuesday.
“We have the world’s largest single market, we have the power to negotiate, we have the power to push back, and Europeans should know that we will always promote and defend our interests and values.
Von Der Leyen said there are issues that need to be addressed in global trade, including unfair subsidies and denial of market access, but tariffs “fully” will exacerbate the situation.
“When Americans say other people have used the rules, I agree. We’re struggling with it too, so let’s work on it,” von der Reyen said.
“Taxes are taxes people pay,” she added.
“Taxes are American taxes on food and drug therapy. Taxes are simply fuelled by inflation, the exact opposite of what we want to achieve.”
Von Der Leyen said the EU is open to negotiations with Washington, but the bloc will negotiate from a “position of strength” and take “solid measures as needed.”
“All the instruments are on the table,” she said.
Von Der Leyen’s comments have sparked comments from countries as they prepare for Trump’s biggest tariff announcement on April 2, what the US president calls “liberation day.”
Trump’s trade salvo rattles excited tensions with some of Washington’s closest allies, including Brussels.
In particular, his 25% tariff on automobile and vehicle parts, if implemented Thursday, could cause serious economic damage to Europe, where the automotive industry is estimated to employ around 14 million people.
EU exporters paid 25% tariffs on steel and aluminum last month. This prompted BLOC to announce “measures” worth 26 billion euros ($28 billion) in US products.
On Monday, Trump repeated his usual point of talk about other countries being “breaking away” the US, but said mutual tariffs were “very great” compared to other countries’ trade policies.
Earlier in the week, Trump revealed that tariffs would apply to “all countries” and poured cold water in the hopes that the measures would target only certain trading partners.
(Source: Al Jazeera)