From Leyen to US tariffs: “Heavy blow for the global economy” | EUROtoday

The criticism of Trump’s customs package deal was not lengthy in coming: as a “difficult blow for the global economy”, the EU Commission President of the Leyen described the measure. Others spoke of a “declaration of war” and “ghost trip”.

US President Donald Trump’s new customs package deal hits many international locations hard-the EU member states are additionally affected. The EU Commission President of the Leyen commented accordingly. She spoke of a “severe blow to the global economy”. The tariffs have horrific penalties for thousands and thousands of individuals on earth, stated von der Leyen throughout a go to to the Uzbek metropolis of Samarkand.

The EU member states have been already engaged on a “new package” of countermeasures “to protect our interests and our companies if the negotiations fail,” stated the pinnacle of the Commission. At the identical time, Leyen signaled the persistent willingness to debate additional discussions with the US authorities. “There is an alternative way,” stated von der Leyen.

She identified that EU commerce commissioner Maros Sefcovic “in constant contact” together with his US colleague Howard Lutnick. “We will strive to reduce and not increase the obstacles.”

EU President depend on commerce with different international locations

EU Council President António Costa requires the removing of commerce relationships to different international locations after the US customs duties. It was now time to ratify the deliberate new free commerce agreements with the South American state alliance Mercosur and Mexico, stated Costa on the sidelines of a summit with head of state and authorities in Central Asian states in Uzbekistan.

In addition, negotiations with India and different vital companions needs to be pushed decisively. “Trade is a strong motor of global prosperity,” emphasised the previous Portuguese head of presidency. The EU will proceed to work at no cost and honest commerce.

Angry reactions and counter -tariffs

The chairman of the commerce committee within the EU Parliament, Bernd Lange from the SPD, spoke of “arbitrary”, which is “completely unacceptable”, within the SPD day by day matters. The bulletins are a “declaration of war”. For a very long time, harm in a excessive double -digit billion greenback space expects the EU. Trump’s tariffs are a declaration of battle. However, you’re ready and can react with countermeasures, so lengthy.

A “full disaster” and “a trade policy journey of the US President” referred to as the chief of the German Union MPs within the European Parliament, Daniel Caspary, the customs bulletins from the White House. Manfred Weber, President of the European People’s Party EVP within the European Parliament, is able to defend its pursuits within the commerce dispute with the United States. “Today is not a day of liberation for our American friends, but a day of bitterness,” wrote the CSU politician on the X. Donald Trump’s platform for either side of the Atlantic. “Europe is united, is ready to defend its interests and openly for fair, determined conversations.”

The Greens additionally referred to as for this for the service sector, for instance an EU digital tax or restrictions on American banks on the European market. The EU Commission has already introduced a package deal with counter-tariffs, which ought to come into power on April 14th. So far, nevertheless, particulars haven’t but been identified. EU Commission President Ursula von der Leyen desires to remark within the morning hours.

Follow for Germany too

Foreign commerce president Dirk Jandura additionally expects adverse penalties for the German economic system. “I say it very openly: We will feel that,” stated the President of the Federal Association of Wholesale, Foreign Trade, Services (BGA) of the Reuters information company. “We will have to implement the tariffs into price increases, and in many cases this means a decline in sales.” In the case of smaller corporations which have already been weakened from the previous tough years, that may additionally imply that. With that it additionally impacts their staff.

The President of the German Association of the Automotive Industry (VDA), Hildegard Müller, described the US step as a elementary commerce coverage lower. “It is the departure of the United States from the rule -based global trade order – and thus the departure from the basis for worldwide added value and corresponding growth and prosperity in many regions of the world. This is not an America first, that is America Alone,” stated the VDA President.

The Association of Chemical Industry (VCI) regretted the choice of the US authorities. “Now it is important for everyone involved to keep a cool head,” stated VCI basic supervisor Wolfgang Große Entrup. “An escalation spiral would only increase the damage. Our country must not become the game ball of an excessive trade war.” In his response, Brussels should stay versatile and in shut dialogue with Washington. Europe wants a robust mandate, additionally within the curiosity of German business. “The goal must be a fair solution on both sides – for Europe and the USA,” stated Große Entrup.

The President of the Kiel Institute for the World Economy, Moritz Schularick, described the brand new US tariffs as a extreme shock for world commerce. “If these tariffs persist in this form, it is a turning point for the global economy as we know it. Then we are in another world trade regime. It really hurts, including the Americans,” Schularick instructed Handelsblatt.

Emphasized serenity in different international locations

The Italian Prime Minister Giorgia Meloni describes the US tariffs as “wrong”. Rather, she hopes for a cooperation between the USA and Europe to keep away from a commerce battle, she says. This would weaken the West.

The French business affiliation FEVS expects a decline in wine and spirits exports of not less than 20 p.c. The affiliation chairman Gabriel Picard instructed BFM TV.

Great Britain, based on the US tariffs, will stay “calm and determined” to attempt for an financial settlement with the USA given the US tariffs. “We have a number of instruments available and will not hesitate to act,” says a proof. In it, Reynolds additionally factors out that the United States is the closest ally of the dominion. The United States has deliberate tariffs of ten p.c for Great Britain.

According to Prime Minister Anthony Albanese, Australia will do with out retaliation duties. “We will continue to be emphasized that these unjustified tariffs are lifted for our exporters,” he stated. The surcharges introduced by the United States are “not a friend’s act”. The measure will drive up the price of American households.

Effects additionally on the inventory exchanges

However, Canada’s Prime Minister Mark Carney introduced countermeasures. These could be introduced on Thursday, he stated in entrance of a cupboard assembly. “It is important to act in a targeted and emphasis, and that’s exactly what we will do.” According to the US Presidential Office, the brand new base customized of ten p.c doesn’t apply to Canada. However, the US tariffs of 25 p.c for a lot of items in reference to drug and immigration points stay in power.

China additionally threatened countermeasures. The People’s Republic has famous the announcement of mutual tariffs and decidedly rejected it, the Ministry of Commerce stated in Beijing. China will defend his rights and pursuits.

The incumbent South Korean President Han Duck-Soo ordered speedy measures to help corporations affected by the US tariffs. This was introduced by the Ministry of Industry. “Since the global trade war has become reality, the government has to use all its skills to overcome the trade crisis,” stated Han, based on the ministry, at a gathering with the finance minister and different prime officers.

The shares of enormous know-how teams initially considerably declare the US commerce. Apple quickly falls by 6.1 p.c, Microsoft by two p.c and Nvidia by 4.7 p.c. Amazon offers up 5 p.c, Meta can be 4.7 p.c and Tesla 5.9 p.c. For Alphabet it goes down three p.c, 3.9 p.c for Alibaba and a pair of.8 p.c for Netflix. Companies within the chip business even have feathers within the publish -interconnected commerce.

With info from Thomas Spickhofen, ARD studio Brussels