US EditionEU to prepare countermeasures to US reciprocal tariffs, says EU chief
- Donald Trump's administration imposed 20% tariffs on EU goods sold to the US, impacting various sectors.
- These tariffs, dubbed 'Liberation Day' tariffs, stemmed from the US belief that the EU charges unfair tariffs.
- French businesses convened an emergency meeting, as sectors like brandy, cognac, and gas turbines faced new challenges.
- Emmanuel Macron stated the tariffs would have a 'massive impact' and issued a 'call to arms': 'not to invest in America'.
- The EU considers retaliatory measures, potentially targeting US Big Tech, while Deutsche Bank projects a 0.4-0.8% GDP hit.
383 Articles
383 Articles
Trump's customs policy puts pressure on the global economy – an important variable is now how Europe's trading power reacts. An EU politician says it's a "bazooka" on the table.
For the chief economist of the Allianz Ludovic Subran group, the question of the European response to Donald Trump's customs surcharges will be central to determining whether consumers and businesses will suffer from this new vision of globalisation.
On several occasions, EU politicians stress that the huge tariff package of US President Trump will not remain unanswered. It is not yet clear how exactly Europe will oppose Washington. Anti-tariff duties and negotiations are conceivable – but perhaps the "Bazooka" will also be used.
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