EU set to respond with countermeasures to US 20% tariffs

Yesterday, US President Donald Trump announced the imposition of 20% tariffs on imports from the European Union, coming into force on April 9, as part of a broader move for tougher trade policy.

In response, European Commission President Ursula von der Leyen called the decision a major blow to the global economy. According to her, if negotiations on easing the new tariff barriers fail, the EU is ready to take countermeasures to protect its trade interests and businesses in the region.

Earlier, von der Leyen noted the EU's ability to use various instruments of influence, including retaliatory tariffs and mechanisms to put pressure on American companies.

As Bloomberg reports, US tariffs could derail much of the eurozone's economic growth expected for this year and the next one. Their effect on inflation is not yet so clear, preventing European Central Bank officials from making any decisions at their next meeting on April 17.

EU trade ministers are due to meet on April 7 to discuss further action, according to the agency. Von der Leyen promised to give a strong and proportionate response, emphasizing, however, that the EU would prefer to avoid confrontation and find a negotiated solution.