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EU 'prepared to respond' as Trump tariffs shock Europe
DW (English)
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4/3/2025
US President Donald Trump’s new tariffs mark the latest escalation in the ongoing trade war between Washington and its global partners. For the EU, this could lead to damages reaching tens of billions of euros.
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00:00
They will impact everything from pharmaceuticals, semiconductors to wood products.
00:07
U.S. President Donald Trump's tariffs of 20 percent on all imports from the European Union
00:12
mark the latest escalation in the ongoing trade war between the U.S. and Europe.
00:17
For the EU, a big net exporter to the U.S., this could lead to damages reaching tens of billions of euros.
00:25
I deeply regret this choice.
00:28
Let's be clear-eyed about the immense consequences.
00:32
The global economy will massively suffer.
00:36
Uncertainty will spiral and trigger the rise of further protectionism.
00:41
The latest package comes in addition to the 25 percent import tariffs on cars that have now come into force.
00:48
A major blow to Europe's car manufacturers.
00:50
Approximately 20 percent of vehicles produced in the EU are exported to the U.S. each year.
00:56
All of these will now be subject to the new tariffs.
00:59
They will have a devastating impact on European exports to the United States.
01:04
So they will dampen revenues, market shares, and that will have a ripple effect also on all of the supply base in Europe.
01:12
So it impacts Germany, German manufacturers, but all of the European auto industry at large.
01:18
The mood of many members of the European Parliament gathered in Strasbourg this week is clear.
01:23
They want a strong and united reaction from the EU.
01:26
I can assure you that the EU stands together in the area of trade.
01:32
We are 450 million people.
01:37
We are an economic powerhouse and have many more ways of reacting along with our partners compared to options available to smaller states.
01:48
EU countermeasures that have already been approved for the 14th of April include iconic American products like bourbon whiskey or Levi's.
01:55
Now additional tariffs will be discussed.
01:59
The need to strike a balance between what we think is the right political response,
02:04
which will be to say you need to stop and we are going to adopt countervailing measures,
02:11
and the economic reality that putting in place counter tariffs actually could be counterproductive for the European economy.
02:19
The EU has announced it will carefully review the package before deciding on its response.
02:24
For now, the plan is to apply tariffs only on products that have alternatives within Europe to ease the burden on consumers.
02:31
One thing is clear, the bloc wants to show that the world's biggest single market can't be sidelined easily.
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