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3w ago

EU Prepares Retaliation as Trump Readies New Tariffs on 'Liberation Day'

European leaders emphasize negotiation but warn of $28 billion in countermeasures if U.S. tariffs proceed.

European Commission president Ursula von der Leyen addresses European Parliament members on new plans to ramp up defense spending agreed at last week's summit, Tuesday, March 11, 2025 at the European Parliament in Strasbourg, eastern France. (AP Photo/Pascal Bastien)
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Overview

  • President Donald Trump plans to announce new tariffs on April 2, calling it 'Liberation Day,' aimed at addressing trade imbalances.
  • The European Union has outlined a $28 billion retaliatory tariff plan targeting U.S. goods, set to take effect by mid-April if necessary.
  • European Commission President Ursula von der Leyen emphasized the EU's preference for negotiation but reaffirmed readiness to act decisively.
  • The EU is consulting with member states to finalize a unified response and will assess the impact of U.S. measures before taking action.
  • Concerns over a global trade war and economic instability have grown as markets react to uncertainty surrounding Trump's tariff strategy.