EU readies countermeasures against US tariffs – Von der Leyen

European Commission President Ursula von der Leyen condemned US President Donald Trump’s universal tariffs as a major blow to the global economy, warning that the European Union was ready to respond if talks with Washington failed.

Speaking in Uzbek city Samarkand on Thursday, as cited by Reuters, von der Leyen said the EU was finalising its first package of countermeasures targeting US steel tariffs and preparing further steps to protect European businesses.

The bloc plans to impose tariffs on up to €26 billion ($28.4 billion) of US goods this month.

Trump on Wednesday announced a 10 per cent minimum tariff on most imports, with a 20 per cent rate for the EU, escalating trade tensions.

Von der Leyen warned of rising consumer costs and economic disruption but said negotiations could still resolve the dispute.

Attribution: Reuters