Trump plans to impose high tariffs, and the EU has announced that it is fully prepared to hit back.

Trump's High Tariffs. The EU Prepares to Retaliate

European Commission President Ursula von der Leyen believes that US President Trump's plan to impose tariffs on all goods imported into the United States will cause "significant" losses to the global economy, and announced that the EU is ready to take countermeasures if negotiations between Europe and America fail.

Europe awaits the U.S. announcement of tariff hikes for retaliation. European Commission President Ursula von der Leyen immediately responded by saying: "We are prepared to respond, we have finalized our first set of countermeasures against steel tariffs. We are preparing other countermeasures to protect our interests and businesses if negotiations fail."

An additional 20% tariff on all products from the EU has left Danish Foreign Minister Jeppe Kofod bewildered.

Danish Foreign Minister Jeppe Kofod stated: "I don't understand why the U.S. wants to start a trade war with Europe. No one wins; everyone loses. Instead of building walls, let's tear them down. Europe will remain united, and Europe will respond firmly and proportionally."

Ireland and Italy were equally surprised and condemned the move, despite the close relationship between Italian Prime Minister Giorgia Meloni and President Trump. Italian Prime Minister Giorgia Meloni said: "I believe that the U.S. imposing tariffs on the EU is an incorrect measure that benefits neither side."

Other countries like Germany are trying to defuse the situation. German chemical industry associations are calling for the EU to stay calm, emphasizing that escalation will only worsen the situation, as the U.S. is the largest export market for this sector.

The reaction outside the EU was also strong, with Switzerland facing a tax rate as high as 31%, even higher than its neighboring countries France and Austria.

The Swiss Federal Council noted the U.S. decision on tariffs. The Federal Council will quickly decide on the next steps. Long-term national economic interests are the top priority.

On the other hand, the UK hopes to reach an agreement with the U.S. to mitigate the impact of tariffs and does not intend to take retaliatory action immediately.

Source: rfi

Original Source: https://www.toutiao.com/article/1828377719213060/

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