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U.S. President Donald Trump has promised to roll out taxes on
imports from other countries on Wednesday. He says they will
free the U.S. from reliance on foreign goods.
He’s vowed to impose “reciprocal” tariffs to match the duties
that other countries charge on U.S. products, dubbing April 2
“Liberation Day.”
“Europe has not started this confrontation. We do not
necessarily want to retaliate, but if it is necessary, we have a
strong plan to retaliate and we will use it,” European
Commission President Ursula von der Leyen told EU lawmakers.
The commission, the EU’s executive branch, negotiates trade
deals on behalf of the bloc’s 27 member countries and manages
trade disputes on their behalf.
“Europe holds a lot of cards, from trade to technology to the
size of our market. But this strength is also built on our
readiness to take firm counter measures if necessary. All
instruments are on the table,” von der Leyen said, at a European
Parliament session in Strasbourg, France.
The commission already intends to impose duties on U.S. goods
worth some $28 billion in mid-April in response to Trump’s steel
and aluminum tariffs. The EU duties will target steel and
aluminum products, but also textiles, home appliances and farm
goods.
A lot remains unknown about how Trump’s levies will actually be
implemented, notably the “reciprocal” tariffs, and the EU wants
to assess their impact before taking retaliatory action.
“So many Europeans feel utterly disheartened by the announcement
from the United States,” von der Leyen said. “This is the
largest and most prosperous trade relationship worldwide. We
would all be better off if we could find a constructive
solution.”
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