In a video statement published earlier this morning, the European Union Commission President Ursula von der Leyen reacted to President Donald Trump’s new wide-ranging tariffs on most countries in the world. President von der Leyen said that the EU is trying to resolve the trade dispute with the US via negotiations with its chief negotiator Maros Sefcovic engaging in talks with the US side. The EU won’t be retaliating to the latest tariffs announcement but is readying a package of counter-measures it would be willing to enact in case negotiations fail. The statement was read in English, French and German.
The Commission President said that the tariffs are a major blow to the global economy, will induce higher inflation and higher prices for ordinary people and will hurt global businesses. She reiterated that vulnerable people will be most hit and that there is “no order in the disorder” of President’s Trumps actions.
However, President von der Leyen highlighted that she agrees with President Trump that countries are abusing of the current international trade regime and said that the EU is ready to work closely with the US to curb abusive practices with these practices including dumping and counterfeit products. The US has also also strongly came out against the counterfeit of goods in its latest tariff announcement. The Commissioner President said that it is not too late to address these problems.
The President of the European Commission reiterated that the EU stands united to defend its interests, but looks forward to strive for a reduction in trade barriers instead of increasing protectionism.
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