President of the European Commission Ursula von der Leyen said US President Trump’s universal tariffs are a major blow to the world economy, which she said will suffer massively.
Mr Trump earlier unveiled a 10% minimum tariff on most goods imported to the United States – with a higher 20% rate for the European Union – kicking into high gear a global trade war that threatens to drive up inflation and stall US and worldwide economic growth.
The EU chief said the consequences will be dire for millions of people around the globe – including some of the poorest people on the planet, and she deeply regretted the US move.
Ms von der Leyen said all businesses, big and small, will suffer from day one of the US tariff regime, and the cost of doing business with the US will drastically increase.
Ms von der Leyen said she agreed with President Trump that some countries have taken advantage of the current international trading rules, and said the EU was ready to negotiate major changes.
“I am ready to support any efforts to make the global trading system fit for the realities of the global economy,” she said, but added: “Reaching for tariffs as your first and last tool will not fix it.”
She said the EU has “always been ready to negotiate with the US to remove the remaining barriers to transatlantic trade,” and said Commission Vice President and Trade Commissioner Maroš Šefčovič was “permanently engaged” with his US counterparts in seeking a solution.
The universal tariffs announced by the US are a major blow to businesses and consumers worldwide.
Europe is prepared to respond.
We’ll always protect our interests and values.
We’re also ready to engage.And to go from confrontation to negotiation ↓ https://t.co/WbXqsN4ZX7
— Ursula von der Leyen (@vonderleyen) April 3, 2025
At the same time, the EU Commission president said the EU was ready to respond with counter measures, should negotiations fail.
Ms Von der Leyen said the commission has finalised a package to respond to the previously announced 25% tariffs on steel and aluminium, and was now preparing a package to respond to the 20% tariff on EU products announced yesterday by President Trump.
“We are already finalising the first package of countermeasures in response to tariffs on steel,” Ms Von der Leyen said in a statement read out in Samarkand, Uzbekistan, ahead of a EU-Central Asia partnership summit.
“And we’re now preparing for further countermeasures to protect our interests and our businesses if negotiations fail.”
Ms Von der Leyen said the commission would also look out for secondary effects of the US move, stating “we will not accept dumping on our market”.
However, the EU chief added that “it is not too late to address concerns through negotiations”.
Read more:
EU tariff response to dominate Commissioner McGrath’s Dublin visit
Targeting of EU by erstwhile closest ally follows litany of insults and threats
US tariff move is first round in trade war with EU
Italian Prime Minister Giorgia Meloni criticised the tariffs and urged a deal, warning a trade war would only weaken the West.
“The introduction by the US of tariffs towards the EU is a measure that I consider wrong and that does not suit either party,” she said in a statement posted on social media.
“We will do everything we can to work for a deal with the United States, aiming to prevent a trade war that would inevitably weaken the West in favour of other global actors.”
Ms Meloni said Italy would discuss the issue with other European partners, adding that either way, “we will act in the interest of Italy and its economy”.
Italian Foreign Minister Antonio Tajani said he will meet EU trade chief Šefčovič in Brussels.
Italy was “already working with the EU and with European partners for an initial assessment and a common response”, he wrote on X.
“We need a response based on a pragmatic approach, based on dialogue,” Mr Tajani added, urging “constructive negotiations” that take into account US concerns but also protect European interests.
Ms Meloni, leader of the post-fascist Brothers of Italy party, has previously sought to avoid criticising Mr Trump, instead positioning herself as a bridge between the EU and US.