The European Union is preparing for a possible trade confrontation with the United States following President Donald Trump’s announcement of tariffs on European goods. Earlier, Washington has already imposed a 25% duty on imports from Canada and Mexico, as well as 10% on goods from China, Politico reports.
Trump said the EU is “taking advantage” of the the US and promised to impose new tariffs, calling Europe’s trade policy “atrocious”. This led to a drop in European stock markets and increased concerns about a possible escalation of the economic conflict.
European leaders reacted sharply to Trump’s statements. German Chancellor Olaf Scholz said that the EU is strong enough to respond to US economic pressure, although cooperation should remain the main goal. Polish Prime Minister Donald Tusk called the idea of a trade war a “complete mistake”.
The head of European diplomacy, Kaja Kallas, warned that only China would benefit from the trade confrontation. French President Emmanuel Macron called on Europe to be united and to strengthen its independence in defence and energy.
The United States is the EU’s largest trading partner. However, after Trump’s statements, the future of economic relations between the parties remains uncertain.
