Euronews reported that on April 1, European Commission (EC) President Ursula von der Leyen announced that the European Union (EU) holds many cards that could be used for negotiations, deterrence and is ready to postpone the US's global countervailing tax plan if necessary.
Speaking to the European Parliament, Ms. von der Leyen called President Donald Trump's decision to impose countervailing tariffs a mistake, and affirmed that the US had staged a confrontation with Europe.
She stressed that the EU is capable of protecting its people and economy, asserting that the bloc has the world's largest single market, the power to negotiate and the "capable of counter-attacking". She also called on EU members to unite in protecting common interests and values. We will always stand up for Europe, von der Leyen said.
The EC president warned that the tariffs imposed by the US will increase consumer prices, destroy jobs, create a huge customs clearance apparatus and become a nightmare for US companies doing business in Europe. She also noted that Mr Trump's tax policy goes in completely opposite to the goal of re- industrializing the United States that he himself has repeatedly mentioned.
This confrontation is not beneficial to anyone, von der Leyen said.
During her speech, she emphasized the EU's goal of finding a negotiated solution to avoid a full-scale trade war between the two sides of the Atlantic - something experts warn of could have serious economic consequences in the context of global instability.
However, she also affirmed that if negotiations fail, the EU will not hesitate to take strong retaliatory measures, with all options considered.
According to EU officials, the bloc's response may not only stop at imposing counterpart tariffs on goods but also expand to the service sector, which has not been affected before. In 2023, the EU recorded a trade surplus of goods with the US of 156.6 billion euros but suffered a service deficit of up to 108.6 billion euros.
Euronews also said that Ms. von der Leyen has increased contacts with leaders in the bloc to ensure consensus before entering the trade confrontation with the US.
Although many heads of state agree that they cannot help but pay Washington's tariffs, the EU is still divided internally. Countries have mixed views on which items should be targeted, citing concerns that retaliation could harm each country's key industries.
