EU finalizing response to US tariffs
The European Union is finalizing the first package of countermeasures in response to the universal tariffs imposed by U.S. President Donald Trump against trading partners across the globe.
That’s according to a statement released by European Commission President Ursula von der Leyen, CE Report quotes Ukrinform.
"We are already finalising a first package of countermeasures in response to tariffs on steel. And we are now preparing for further countermeasures, to protect our interests and our businesses if negotiations fail. We 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 market," she said.
According to von der Leyen, Europeans will always promote and defend their own interests and values.
“And we will always stand up for Europe. But there is an alternative path. It is not too late to address concerns through negotiations. This is why our Trade Commissioner, Maros Šefčovič, is permanently engaged with his US counterparts. We will work towards reducing barriers, not raising them. Let's move from confrontation to negotiation,” added the European Commission President.
She also addressed Europeans:
“Europe has everything it needs to make it through this storm. We are in this together. If you take on one of us, you take on all of us. So we will stand together and stand up for each other. Our unity is our strength. Europe has the largest Single Market in the world - 450 million consumers - that is our safe harbour in tumultuous times. And Europe will stand at the side of those directly impacted. We have already announced new measures to support the steel and cars sectors. Last week, we limited the amount of steel that can be imported to Europe tariff-free," von der Leyen said.
She stressed that Europe would continue to build bridges with all those who, like the EU, care about fair and rules-based trade as the basis for shared prosperity.
