EU chief says US tariffs a major blow, countermeasures incoming

Ver EU chief says US tariffs a major blow, countermeasures incoming - Diario As en Dailymotion

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00:00President Trump's announcement of universal tariffs on the whole world, including the

00:12European Union, is a major blow to the world economy.

00:17I deeply regret this choice.

00:19Let's be clear-eyed about the immense consequences.

00:24The global economy will massively suffer.

00:28Uncertainty will spiral and trigger the rise of further protectionism.

00:34The tariffs will also hurt consumers around the world.

00:38It will be felt immediately.

00:40Millions of citizens will face higher grocery bills.

00:44Medication will cost more, as well as transportation.

00:49Inflation will go up.

00:51And this is hurting in particular the most vulnerable citizens.

00:57All businesses, big and small, will suffer from day one.

01:02From great uncertainty, to the disruption of supply chains, to burdensome bureaucracy,

01:11the costs of doing business with the United States will drastically increase.

01:18And what is more, there seems to be no order in the disorder.

01:23No clear path through the complexity and chaos that is being created as all U.S. trading

01:30partners are hit.

01:33I agree with President Trump that others are taking unfair advantage of the current rules.

01:40And I'm ready to support any efforts to make the global trading system fit for the realities

01:48of the global economy.

01:51But I also want to be clear.

01:54Reaching for tariffs as your first and last tool will not fix it.

02:02We have always been ready to negotiate with the United States to remove the remaining

02:09barriers to transatlantic trade.

02:13At the same time, we are prepared to respond.

02:18We are already finalizing the first package of countermeasures in response to tariffs

02:23on steel.

02:25And we are now preparing for further countermeasures to protect our interests and our businesses

02:32if negotiations fail.

02:35I know that many of you feel let down by our oldest ally.

02:40Yes, we must brace for the impact that this will inevitably have.

02:47Europe has everything it needs to make it through the storm.

02:51We are in this together.

02:54If you take on one of us, you take on all of us.

02:59So we will stand together and stand up for each other.

03:03Our unity is our strength.