Transatlantic Tariff Turmoil: Economic Impact Looms

Donald Trump's announcement of a 20% tariff on the EU sparked criticism from European Commission President Ursula von der Leyen, highlighting its potential detrimental effects on the global economy and vulnerable populations. Von der Leyen described the VAT increase's implications on everyday essentials and expressed the EU's readiness for negotiation and retaliation.

In a move that has heightened tensions across the Atlantic, US President Donald Trump announced a 20% tariff on the European Union, drawing immediate backlash from European Commission President Ursula von der Leyen. She criticized the decision, calling it a substantial setback for the global economy.

Von der Leyen warned of dire repercussions, particularly for vulnerable communities, as the increased tariffs are expected to drive up costs for groceries, transport, and medicines. She pointed out that these measures would disproportionately impact the most susceptible citizens.

While acknowledging flaws in the world trading system, von der Leyen emphasized the EU's willingness to negotiate with the US but also made it clear that Europe is ready to implement countermeasures if necessary.

(With inputs from agencies.)