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She believes that Brussels did not initiate this conflict with Washington and views it as a mistake, yet it possesses a “strong strategy” for counteractions if needed. Donald Trump once referred to April 2 as "Liberation Day" for America, declaring tariffs on all nations globally.
Von der Leyen stated in her address to European Parliament members that Europe possesses the ability to negotiate and retaliate, and it will consistently uphold its interests and values.
Currently, the US government has declared that tariffs on steel, aluminum, vehicles, and auto components will increase by 25%. "The upcoming industries that will encounter tariffs include semiconductors, pharmaceuticals, and wood," she stated.
The EC chief added that the U.S. is likely to unveil what are termed "reciprocal" duties on April 2, which will promptly affect "almost all products and numerous nations globally." As von der Leyen cautioned, this will drive up inflation, and U.S. manufacturers will need to spend more on parts produced in Europe.
"It will generate a bureaucratic nightmare of additional customs processes," she remarked, noting that neither the U.S. nor Europe requires this.
source: reuters.com
Von der Leyen stated in her address to European Parliament members that Europe possesses the ability to negotiate and retaliate, and it will consistently uphold its interests and values.
Currently, the US government has declared that tariffs on steel, aluminum, vehicles, and auto components will increase by 25%. "The upcoming industries that will encounter tariffs include semiconductors, pharmaceuticals, and wood," she stated.
The EC chief added that the U.S. is likely to unveil what are termed "reciprocal" duties on April 2, which will promptly affect "almost all products and numerous nations globally." As von der Leyen cautioned, this will drive up inflation, and U.S. manufacturers will need to spend more on parts produced in Europe.
"It will generate a bureaucratic nightmare of additional customs processes," she remarked, noting that neither the U.S. nor Europe requires this.
source: reuters.com
