Donald Trump, the President of the United States, announced that tariffs would also be imposed on the European Union (EU). According to foreign media such as Bloomberg News on the 2nd (local time), President Trump, speaking to reporters at Andrews Air Force Base near Washington D.C., responded to a question about the next country to be targeted for tariffs by saying, “I can’t say there is a timeline, but it will be imposed soon,” and added, “It could certainly be the EU.”
He further mentioned that tariffs would definitely be imposed on the EU, the UK, and other countries. Regarding Canada’s retaliatory tariffs, President Trump indicated that the U.S. might impose additional tariffs, saying, “If they do anything, we will respond.” He also revealed plans to have talks with the leaders of Canada and Mexico before imposing general tariffs on them on the 4th.
In response, the EU has stated that they will take action if the tariff measures are extended to include the EU. A spokesperson for the European Commission, according to Politico, stated in the context of Trump’s second tariff war that “we will respond firmly if any trade partner imposes unfair and arbitrary tariffs on EU goods.”
The declaration of tariffs on Mexico, Canada, and China has been described as “regrettable,” with criticisms that tariffs create unnecessary economic turmoil and cause inflation, affecting everyone negatively. The strong trade and investment relationship between the United States and Europe is highlighted as having much at stake.
Concerns are also being voiced in European countries. France’s Industry Minister, Mark Feracci, stressed the need for a response to U.S. tariffs on the EU, focusing on significant products to ensure that the retaliation impacts the U.S. economy and acts as a credible threat in negotiations.
However, he noted the need to wait for decisions related to Europe by the U.S. administration and emphasized that trade negotiations with Trump should consider the dynamics of power. Germany’s Finance Minister, Jörg Kukies, cautioned against panicking over initial decisions, viewing it as the start rather than the end of negotiations.
German Chancellor Olaf Scholz emphasized the importance of not dividing the world with numerous tariff barriers while asserting that the EU is a strong economic bloc with its own course of action.
Previously, on the 1st, President Trump signed an executive order imposing a 25% tariff on imports from Canada and Mexico, and an additional 10% tariff on Chinese products, prompting countries to announce plans for a WTO complaint and retaliatory tariffs.