The president of the European Commission, Ursula von der Leyen, has reiterated how detrimental the 30% tariffs imposed on the European Union by President Donald Trump are to the global economic flow.
This statement came after President Donald Trump sent a letter to von der Leyen Friday announcing the tariffs would be effective starting Aug. 1.
“Imposing 30 percent tariffs on EU exports would disrupt essential transatlantic supply chains to the detriment of businesses, consumers and patients on both sides of the Atlantic,” highlighted Leyen.
In his letter, President Trump mentioned the tariffs were justified since trade between the two continents has been unfair for years, resulting in economic harm and national insecurity.
“Please understand that these tariffs are necessary to correct the many years of European Union Tariff and Non-Tariff Policies and Trade Barriers, which cause the large and unsustainable Trade Deficits against the United States. This Deficit is a major threat to our Economy and indeed, our National Security,” said Trump.
Clashing views on fair trade, economic impact
While Trump believes these tariffs are justified as a means to correct years of trade barriers, which have resulted in a trade deficit, von der Leyen sees the measure as unnecessary and harmful.
Von der Leyen emphasized that the EU is prepared to take protective measures if required to defend its economic interests.
“We remain ready to continue working towards an agreement by August 1. At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required.”
Trump further warned that if the EU retaliates with its own tariffs, this will only result in additional tariffs on their side.
Despite the ongoing tensions, both the EU and U.S. have expressed willingness to resolve their differences and continue cooperating under fairer conditions before the August deadline.
The coming weeks are important as the two continents wait to negotiate better trading terms while avoiding conflict. Can the U.S. and the EU find common ground and preserve one of the world’s important trading relationships?
Featured image by Igor Omilaev on Unsplash
Edited by James Sutton & Nancy Martin
