Trump Tariffs Are ‘Major Blow’ to World Economy: Von der Leyen
April 3, 2025
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1:28Now PlayingTrump Tariffs Are ‘Major Blow’ to World Economy: Von der Leyen
YouTube Description
as posted by the channelThe European Union, the US’s largest trading partner, vowed to retaliate after President Donald Trump announced sweeping tariffs against the bloc in his bid to dismantle the global trading system.
Trump, speaking from the White House on Wednesday, announced a 20% tariff on EU imports, which will take effect April 9. He repeated his assertion that the 27 member states “rip us off” and called it “pathetic.” He unveiled different duties for certain countries, including a rate well above 50% for China.
“President Trump’s announcement is a major blow to the world economy,” European Commission President Ursula von der Leyen said in a video address Thursday. “We’re preparing for further countermeasures to protect our interests and businesses if negotiations fail.”
Trump’s so-called reciprocal tariffs are meant to target all the trade barriers US exports face abroad, such as duties, domestic regulations and taxes. Von der Leyen has previously said the EU “holds a lot of cards,” including retaliatory tariffs and targeting American services and technology companies.
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