Trump Tariffs LIVE: EU Has a ‘Strong Plan’ To Retaliate on Trump Tariffs, Says Von Der Leyen | N18G

Trump Tariffs LIVE: EU Has a ‘Strong Plan’ To Retaliate on Trump Tariffs, Says Von Der Leyen | Trump Tariffs | CNBC TV18
The European Union is preparing further countermeasures against U.S. tariffs if negotiations fail, according to European Commission president Ursula von der Leyen. U.S. President Donald Trump had imposed 20% tariffs on the bloc on Wednesday.
Von der Leyen’s comments come after retaliatory duties were announced by the bloc after the U.S. imposed tariffs on last month in a bid to protect European workers and consumers. The EU at the time said it would introduce counter-tariffs on 26 billion euros ($28 billion) worth of U.S. goods.
Previously suspended duties — which were at least partially in place during Trump’s first term as president — are set to be re-introduced alongside a slew of additional duties on further goods. Industrial-grade steel and aluminum, other steel and aluminum semi-finished and finished products, along with their derivative commercial products, such as machinery parts and knitting needles were set to be included. A range of other products such as bourbon, agricultural products, leather goods, home appliances and more were also on the EU’s list.
U.S. President Donald Trump launches a new barrage of tariffs, a bid to boost U.S. manufacturing that could risk plunging the economy into a downturn and shredding decades-old alliances. Trump’s self-described plan for “reciprocal” tariffs follows new 25% taxes on auto imports and levies against China, Canada and Mexico as well as expanded tariffs on steel and aluminum, all of which are starting to impact expectations of inflation climbing and growth stagnating.

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