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After Trump's tariffs and international reactions, as well as the "storm" on stock markets from Asia to New York, it seems that the US's big bargain with those directly affected, such as the EU, has begun.
In her statements today after a telephone conversation with British Prime Minister Keir Starmer, European Commission President Ursula von der Leyen said that the EU is preparing to defend its interests with proportionate countermeasures to Trump's tariffs and will cooperate with its partners in this regard.
The Commission President expressed her concern about the tariffs and the economic damage they cause to all countries, including the poorest. Acknowledging that the tariffs represent a major turning point for the United States, she stressed the EU's commitment to engage in negotiations with the US and expressed hope that the EU is ready to defend its interests if necessary.
Von der Leyen expressed her determination to work with partners to respond to this new reality for the global economy, acknowledging that each trading partner will act according to its own priorities.
Von der Leyen and Starmer discussed preparations for the upcoming EU-UK summit on 19 May, which will be a major opportunity to strengthen EU-27 cooperation with the UK in key areas such as security, defence, trade and the economy.
In a parallel development, more than 50 countries have contacted the White House to begin trade negotiations, Kevin Hassett, director of the U.S. National Economic Council, told ABC News today. Hassett also denied that President Trump's tariffs are an indirect way to pressure the U.S. Federal Reserve to lower interest rates.
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