German Chancellor Olaf Scholz stated that the European Union could impose its own tariffs in response to U.S. President Donald Trump’s threats, but emphasized that cooperation between the parties is more important.
Scholz made this statement upon arriving in Brussels for an informal EU leaders’ summit. He noted that the meeting would discuss cooperation with the United States. The Chancellor added that both the U.S. and Europe benefit from trade in goods and services. He warned that if customs policy complicates this exchange, it would be detrimental to both the U.S. and Europe.
According to Scholz, the EU is prepared to respond to U.S. actions with its own customs policy. However, he stressed that the primary goal is to continue cooperation with America.
EU High Representative for Foreign Affairs and Security Policy, Josep Borrell, stated that a potential “trade war” between the U.S. and Europe would cause losses for both sides.
Donald Trump proposed imposing a 25% tariff on imports from Mexico and Canada, to which these countries responded with their own tariffs. Additionally, Trump threatened to impose further tariffs on goods from the EU.
