EU threatens retaliation if Trump raises tariffs

The European Union (EU) has warned President Trump that the bloc will retaliate if he imposes additional tariffs on EU goods.

European Commission President Ursula von der Leyen and US President Donald Trump - Photo: AFP

According to Politico , on February 2, the European Commission said it "regretted" US President Donald Trump's decision to impose high tariffs on goods from Canada, Mexico and China on February 1.

The US leader has vowed to take similar measures against the EU soon.

"Our trade and investment relationship with the United States is the largest in the world. There is a lot at stake. Tariffs create unnecessary economic disruption and fuel inflation. They hurt everyone," a European Commission spokesman said on February 2.

"The EU will react firmly to any trading partner that imposes unfair or arbitrary tariffs on EU goods," the spokesman added.

French Industry Minister Marc Ferracci also called for a tough response from the EU, noting that "we are waiting for the decisions of the US administration on issues that concern Europe".

For retaliation to be effective, Mr Ferracci added, the response must be focused on products that are important to the US and “it must be painful”, meaning it must impact the US economy. He urged Brussels not to be naive and to draft a “Buy European Act”.

On February 1, President Trump signed an executive order imposing a 25% tariff on goods from Canada and Mexico, and an additional 10% on all imports from China. But in the case of Canada, energy imports from Canada, including oil, natural gas and electricity, will be taxed at a rate of 10%.

Mr Trump argued the tariffs were necessary to “protect the American people”, and said they would remain in place until the national emergency in the US over the opioid fentanyl and illegal immigration was over.

Mexican President Claudia Sheinbaum immediately ordered retaliatory tariffs against the US, while Prime Minister Justin Trudeau said Canada would impose a corresponding 25% tax on imports from the US worth up to $155 billion. China also condemned Mr. Trump's move, declaring it would sue the US at the World Trade Organization (WTO).

Source: https://tuoitre.vn/eu-doa-tra-dua-neu-ong-trump-tang-thue-quan-20250203083445041.htm