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Investing.com -- European Commission President Ursula von der Leyen has strongly criticized the U.S. President Donald Trump’s sweeping tariffs, calling them a serious threat to the global economy.
She warned that the European Union is ready to retaliate if negotiations with Washington fail.
Speaking in the Uzbek city of Samarkand on Thursday, ahead of an EU-Central Asia partnership summit, von der Leyen confirmed that Brussels is finalizing an initial set of countermeasures targeting U.S. steel tariffs.
“We are already finalising the first package of countermeasures in response to tariffs on steel,” she said. “And we’re now preparing for further countermeasures to protect our interests and our businesses if negotiations fail.”
She did not disclose specifics on the EU’s next moves, but the bloc is set to impose tariffs on up to €26 billion worth of U.S. goods this month in response to Washington’s steel and aluminum levies, which took effect on March 12.
Trump’s latest trade policy, announced Wednesday, imposes a minimum 10% tariff on most imported goods, with the EU facing an even steeper 20% rate.
The move has escalated global trade tensions, raising fears of higher inflation and economic slowdowns both in the U.S. and worldwide.
Von der Leyen condemned the decision, warning of "immense consequences" for the world economy, particularly for vulnerable nations subject to some of the highest U.S. tariffs.
This will fuel uncertainty and encourage further protectionism, she cautioned, highlighting the potential for rising consumer prices on essential goods such as food, medicine, and transport, as well as disruptions for businesses.
“What is more, there seems to be no order in the disorder, no clear path to the complexity and chaos that is being created as all U.S. trading partners are hit,” she added.
Despite her sharp criticism, von der Leyen acknowledged Trump’s concerns over global trade imbalances and signaled a willingness to discuss reforms. She said that it is not too late to resolve these issues through negotiation.