22 April | Euro

European Commission head sees world countries' eagerness to cooperate with Europe amid US tariffs

European Commission head sees world countries' eagerness to cooperate with Europe amid US tariffs

European Commission President Ursula von der Leyen said in an interview with POLITICO that the sudden decision of the United States to impose large-scale tariffs on imports made many countries of the world seek cooperation with Europe.

She said that since the announcement of the sweeping trade restrictions, she has spoken to representatives from Iceland, New Zealand, Malaysia, the Philippines, Canada, India and the UAE, all seeking “strong, reliable partners.” She noted that it is Europe that countries are turning to because of the increasingly unpredictable global environment.

On April 2, US President Donald Trump announced the introduction of reciprocal tariffs, implying a 20% levy on supplies from the European Union and a 10% base tariff for most other countries in the world. A week later, amid a collapse in financial markets, Trump suspended the increased tariffs for 90 days, opening a way for negotiations on a trade deal.

The World Trade Organization forecasts that if Trump reimposes reciprocal tariffs on most countries, global trade could fall by 1.5% this year. At the same time, according to their estimates, North America will be most affected.

Elena Dorokhina MarketCheese
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