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The EU is set to announce a first package of counter-measures in response to President Trump’s announcement of universal tariffs on the whole world, including the EU.
The US is EU 5th most important trading partner, with total trade exceeding €9 billion.
Commission chief Ursula von der Leyen called the U.S move a major blow to the world economy.
Further condemnation came on Friday when UK foreign minister David Lammy, speaking before meetings in Brussels, said he regrets the return to protectionism.
Earlier, von der Leyen said, “I deeply regret this choice.”
She went on to say, “Let’s be clear-eyed about the immense consequences.The global economy will massively suffer.”
“Uncertainty will spiral and trigger the rise of further protectionism.”
The commission president warned, “The consequences will be dire for millions of people around the globe. Also for the most vulnerable countries, which are now subject to some of the highest US tariffs. This is the opposite of what we want to achieve.”
“The tariffs will also hurt consumers around the world.It will be felt immediately. Millions of citizens will face higher grocery bills.Medication will cost more as well as transportation.Inflation will go up. And this is hurting in particular the most vulnerable citizens.”
“All businesses – big and small – will suffer from day one.”
On Friday, yet more condemnation of the move came from across the spectrum.
In a statement BusinessEurope Director General Markus J. Beyrer warned that the US decision to impose an additional 20% tariff on EU goods will harm businesses and consumers on both sides of the Atlantic.
European Apparel and Textile Confederation Director General Dirk Vantyghem warned against this tariff escalation saying “American customers enjoy high end fashion items, but also technical textiles coming from Europe. Adding a 20% duty will hamper that relationship.”
“This decision is like going back in time; it will lead to a loose-loose relationship within the global textile industry. EURATEX stands for free but fair trade, based on common rules which are respected by all; the EU and the US should lead by example, and promote high quality and sustainable textile products.”
The European Federation of Food, Agriculture and Tourism Trade Unions (EFFAT) expressed deep concern over President Donald Trump’s recent “Liberation Day” trade announcement, which signals a dangerous return to protectionism.
“These tariffs unfairly target European producers and workers, putting pressure on wages, job security, and market stability.”
“The EU must act now to support affected branches and save jobs, preventing a race to the bottom in labour standards,” warns Enrico Somaglia, EFFAT General Secretary.
