EU Leaders React Strongly to Trump's New Tariffs: A Call for Unity
European Commission President Ursula von der Leyen expressed grave concerns this morning regarding the significant threats to the global economy posed by tariffs announced by US President Donald Trump last night. She emphasized that the EU is prepared to respond effectively, despite Trump's derogatory reference to the EU as "pathetic". Nonetheless, von der Leyen held onto the hope that relations could shift from confrontation to negotiation amidst the chaos created by these decisions.
European leaders have swiftly reacted to the news, initiating discussions on how to manage the situation. French President Emmanuel Macron has convened an emergency meeting to address the sectors most affected by the newly imposed tariffs. In Germany, economic analysts such as those from the daily newspaper Handelsblatt predict severe financial losses for automotive giants like BMW, Mercedes, and Volkswagen, estimating a potential hit of up to $11 billion due to a 25% tariff on car imports by the US. This is significant, considering that it represents nearly a third of Germany's total automotive exports valued at $368 billion.
Von der Leyen directly addressed European citizens, acknowledging their feelings of betrayal by a longtime ally. She stressed the critical importance of focusing on future actions. Echoing her sentiments, Moritz Schularick, president of the Kiel Institute for the World Economy, remarked on the fragile state of trust in US-EU relations, suggesting that it might take a long time to rebuild that trust.
In their responses, other European leaders echoed von der Leyen's call for unity. Outgoing German economy minister Robert Habeck highlighted the EU's vast single market as a collective strength, advocating for a united front in negotiations. Italian Prime Minister Giorgia Meloni denounced the tariffs as detrimental, asserting a commitment to working towards a resolution with the US to avoid a trade war that could weaken the West in favor of other powers.
Swedish Prime Minister Ulf Kristersson expressed his disappointment and a desire to collaborate with the EU to revert the situation and restore a path towards cooperation and trade with the US. Similarly, Irish Prime Minister Micheál Martin underscored the negative impact of tariffs on jobs and businesses, pledging to support the Irish economy through this turbulent period and seek negotiations with the US to mitigate damages.
Polish Prime Minister Donald Tusk and Finnish Prime Minister Petteri Orpo also contributed to the discussion, both emphasizing the need for reciprocal measures and expressing their concerns about the implications of a trade war, which they believe would hurt businesses and economic growth across Europe.
As this situation continues to evolve, European leaders are poised to weigh their options carefully, knowing that the stakes are high not just for their own economies but for global trade dynamics at large.
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