{"id":14326,"date":"2025-04-03T05:26:41","date_gmt":"2025-04-03T05:26:41","guid":{"rendered":"https:\/\/infundpros.com\/?p=14326"},"modified":"2025-04-03T05:26:42","modified_gmt":"2025-04-03T05:26:42","slug":"eu-ready-to-retaliate-against-donald-trumps-tariffs-says-ursula-von-der-leyen","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=14326","title":{"rendered":"EU ready to retaliate against Donald Trump\u2019s tariffs, says Ursula von der Leyen"},"content":{"rendered":"<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=4222793a-ce05-4679-8cf5-47a2bbc7cf58\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>The EU is ready to retaliate against Donald Trump\u2019s 20 per cent tariffs but will first seek to negotiate a deal, the president of the European Commission said as she warned the world would \u201cmassively suffer\u201d from the US moves.<\/p>\n<p>Trump on Wednesday unveiled 20 per cent tariffs on the bloc as part of his \u201creciprocal\u201d tariffs against America\u2019s biggest trading partners. Trump has long accused the EU of \u201cunfair trade practices\u201d.<\/p>\n<p>Ursula von der Leyen said on Thursday the bloc was \u201cprepared to respond\u201d to the US levies but emphasised it preferred to negotiate to \u201cremove any remaining barriers to transatlantic trade\u201d.<\/p>\n<p>\u201cWe are already finalising a first package of countermeasures in response to tariffs on steel,\u201d she said on a trip to Uzbekistan. \u201cWe are now preparing for further countermeasures, to protect our interests and our businesses if negotiations fail\u201d.<\/p>\n<p>Brussels is set to impose duties on up to \u20ac26bn of US goods in response to steel and aluminium tariffs on April 12. It has yet to retaliate against 25 per cent tariffs on car exports announced last week.<\/p>\n<p>Von der Leyen offered an olive branch to Trump, conceding that some countries were \u201ctaking unfair advantage\u201d of global trade rules.<\/p>\n<p>But \u201creaching for tariffs as your first and last tool will not fix it\u201d, she said, warning that the tariffs would \u201churt consumers around the world\u201d and raise the cost of groceries, medication and transport.<\/p>\n<p>\u201cThe global economy will massively suffer,\u201d she said.<\/p>\n<p>Von der Leyen vowed the EU would \u201cstand up for\u201d targeted industries including cars and steel and protect its market from dumped goods forced out of the US market.<\/p>\n<p>\u201cWe will also be watching closely what indirect effects these tariffs could have because we cannot absorb global overcapacity nor will we accept dumping on our markets.<\/p>\n<p>\u201cEurope has everything it needs to make it through the storm,\u201d she added. \u201cWe are in this together. If you take on one of us, you take on all of us.\u201d<\/p>\n<p>Behind the scenes, however, leaders have been lobbying to ensure their industries are protected from retaliation to EU countermeasures. France has sought to scrap proposed EU measures against bourbon whiskey, while Ireland has asked for dairy duties to be dropped.<\/p>\n<p>Italy\u2019s Prime Minister Giorgia Meloni, a Trump ally, said earlier that tariffs do \u201cnot suit either party\u201d and that she would seek a deal with the US to \u201cprevent a trade war\u201d.<\/p>\n<p>Trump accused the EU of targeting the US with a tariff rate of in effect 39 per cent, a figure the commission puts at about 1 per cent.<\/p>\n<p>The US president based that figure on other factors such as VAT, which reaches 27 per cent in some member states, and restrictions on imports of chicken washed with chlorine and other farm goods.<\/p>\n<p>The White House is also targeting the bloc\u2019s regulation of tech companies and digital taxes.<\/p>\n<p>The EU exported \u20ac503bn of goods to the US in 2023, running a \u20ac157bn surplus. But it had a \u20ac109bn deficit in services.<\/p>\n<p>The EU could target US services, such as by suspending some intellectual property rights and excluding companies from public procurement contracts under its enforcement regulation.<\/p>\n<p>A step further would be the first use of its \u201canti-coercion\u201d instrument. But any measures would require a weighted majority of member states to agree.<\/p>\n<p>Simon Evenett, a professor at IMD Business School, said the EU\u2019s reliance on US military power to deter Russia and its lack of alternative markets limited the bloc\u2019s ability to respond.<\/p>\n<p>\u201cEuropean trade retaliation is a placebo, offering the illusion of resolve while first-order priorities of rearmament and export diversification remain unaddressed,\u201d he said.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/4222793a-ce05-4679-8cf5-47a2bbc7cf58\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The EU&#8230;<\/p>\n","protected":false},"author":1,"featured_media":14327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-14326","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EU ready to retaliate against Donald Trump\u2019s tariffs, says Ursula von der Leyen | inFundPros<\/title>\n<meta name=\"description\" content=\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The EU is ready to retaliate\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=14326\" 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