EU to Delay US Tariffs until Mid-April
European Commission President Ursula von der Leyen held a press conference after a summit in Brussels on March 20. She discussed US-EU relations and said that Brussels would delay Washington’s retaliatory tariffs until mid-April.
Initially, the EU had intended to impose retaliatory tariffs on €26 billion worth of US goods in two phases, on April 1 and 13. Ursula von der Leyen believes these tariffs will harm both sides of the Atlantic.
“We are fundamentally opposed to tariffs. We think tariffs are bad. They are like taxes. They are bad for consumers and, without a doubt, bad for businesses on both sides of the Atlantic. We are actively negotiating with the US administration on this issue and I can confirm that we have decided to adjust the date of entry into force of the tariffs. Our position is unchanged. This is very important because the tariffs cover up to 26 billion euros of goods. This is the equivalent of 28 billion dollars. Our aim, and this explains the postponement of tariffs, is to achieve the right balance of products, which reflects the interests of our producers, our exporters, our consumers and of course reduces the potential negative impact on our economy,” said European Commission President Ursula von der Leyen.
The tariffs were also discussed by the current German Chancellor Olaf Scholz, who believes that the tariffs imposed by Donald Trump could lead to an economic depression.
“Europe is economically strong, it is the largest economic area in the world. I believe that we should act on this basis. This means that we should remain calm and reasonable. We should not allow others to intimidate us and we should concentrate on avoiding protectionism, which is damaging the global economy and will cause an economic depression in the United States and elsewhere in the coming years,” said the current German Chancellor, Olaf Scholz.
In the past, US President Donald Trump has said that allies are unfairly imposing tariffs on the United States and now it is Washington’s turn to impose “fair” tariffs in response.
