नवीनतम
EU ramps up counters against US tariffs
NEW DELHI [Maha Media]: President of the European Commission Ursula von der Leyen on Thursday announced that the EU was preparing to ramp up its countermeasures to protect itself from US' reciprocal tariffs, Euro News reported.
The EU is "preparing for further countermeasures" to protect its interest, Von der Leyen said after US President Donald Trump announced a 20 per cent levies on European goods, urging the US to "move from confrontation to negotiation", as per Euro News.
In a post on X, Von der Leyen said, "The universal tariffs announced by the US are a major blow to businesses and consumers worldwide. Europe is prepared to respond. We'll always protect our interests and values. We're also ready to engage."
"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," the she said on Thursday from Samarkand, Uzbekistan, where she will attend the first-ever EU-Central Asia summit.
"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 added, as per Euro News.
The US President on Wednesday imposed a minimum 10 per cent tariff on all countries, with the EU put on a list of 60 "worst offenders" and slapped with a higher tailored rate of 20 per cent. The levies are scheduled to come into force next Wednesday.
Tariffs on automobiles made outside the US of 25 per cent were also announced with immediate effect.
Sweden and Ireland have already said in statements that they "regret" the additional tariffs.
"We don't want growing trade barriers. We don't want a trade war. That would make our populations poorer and the world more dangerous in the long run," Swedish Prime Minister Ulf Kristersson said, as per Euro News.
"But - Sweden and the Swedish Government are well prepared for what's happening now. We stand on solid economic ground, with world-class public finances," he added.
