Europe vows to defend against looming us tariff threat
The European Commission announced a decisive response to potential US tariffs on the European Union. The EC emphasises that tariffs "cause economic disruptions and fuel inflation."
The European Commission stated that it was prepared to protect the European Union's interests if the U.S. implemented what it considered unfair tariffs. It emphasized that such measures create avoidable economic disruptions, contribute to inflation, and negatively impact all parties involved.
In mid-January, the European Commission announced it would protect the EU's interests if Donald Trump decided to impose tariffs on the Union after taking office as President of the United States. "If necessary, we will defend our interests, companies, and member states," said EC spokesman Olof Gill.
New tariffs on products from Canada, Mexico, and China
On Sunday, the European Commission expressed "regret" over the US's increasing tariffs on products from Canada, Mexico, and China. The EU firmly believes that low tariffs promote growth and economic stability," the EC spokesman, quoted by AFP, emphasised.
The White House announced that the new tariffs, which will come into effect on 4th February, are a response to the influx of fentanyl across US borders and China's involvement in supplying drug cartels. The regulation provides 25% tariffs on goods from Canada and Mexico and 10% on products from China.
The White House regulation states that the tariffs may be lifted if the mentioned countries take "sufficient actions to alleviate the crisis." Trump also announced that tariffs would be imposed on the European Union.
