EU to retaliate against US trade: Counterattack to Trump's tariff policies

According to a survey released by YouGov on Tuesday, as Washington prepares to launch a new round of larger scale tariff policies on April 2nd, the majority of EU citizens in Denmark, France, Germany, Italy, Spain, and Sweden support retaliatory measures against US imports. Among these six major EU economies, over two-thirds (69%) of citizens expressed their support for such countermeasures, with Danish respondents being the most supportive with 79% supporting countermeasures, while Italians were the least supportive with only 59% supporting them. The survey results highlight the increasing dissatisfaction in Europe with US trade policies, as EU citizens expect their countries to be significantly impacted economically as a result.

Out of 7300 citizens from 6 EU countries surveyed, 75% in Germany believe that tariffs will have a significant or considerable impact, while 31% expect a "significant" impact. Because Germany has a strong automotive industry, it will be the first to be affected by the 25% car tariffs imposed by the United States, which they expect will have a significant impact on their national economy. Similarly, 70% of the French are pessimistic about the impact of the US tariffs on EU goods on their own economies. After Donald Trump threatened to impose a 200% tariff on wine and spirits, it sparked concerns among French producers and exporters that one of France's most representative industries would be severely impacted.

On the eve of the so-called "Liberation Day" by the President of the United States, European Commission President Ursula Vondrein said that the EU has many measures that can be used to negotiate, dissuade and, if necessary, "fight back" Donald Trump's plan to impose comprehensive reciprocal tariffs on all U.S. trading partners. For the EU, equivalent tariffs will be introduced after imposing a 25% tariff on steel, aluminum, and automotive exports. The European Commission has proposed countermeasures for retaliation, but has postponed their launch until mid April.

"Let me be clear: this confrontation was not initiated by Europe. We think it is wrong," von der Leyen said in a speech to the European Parliament on Tuesday. "We have everything we need to protect our people and prosperity. We have the largest single market in the world. We have the power to negotiate. We have the power to fight back. The European people should know that we will always be united to promote and defend our interests and values. We will always stand up for Europe." In her entire speech, von der Leyen insisted that the goal of the European Commission is to "negotiate a solution" to prevent the rapid formation of a comprehensive trade war between the two sides of the Atlantic. At the same time, she also stated that from trade to technology, to market size, the EU has many cards to play. If these negotiations fail to reach a compromise, the EU will not hesitate to take "resolute countermeasures".

Trump's unprecedented actions have angered many long-term allies, not only causing unease in the stock market, but also raising the specter of an economic recession. The President of the European Commission stated that tariffs will increase prices for everyday consumers, destroy employment, and create a 'bureaucratic monster' in customs, becoming a 'nightmare' for American companies selling goods to Europe. She also predicted that these tariffs would go against Trump's much touted agenda of reindustrialization in the United States.