European Commission president calls Trump’s tariffs ‘a major blow’ to global economy

By Esra Tekin

ISTANBUL (AA) - European Commission President Ursula von der Leyen said that US President Donald Trump's newly announced reciprocal tariffs on nations worldwide are a "major blow" to the global economy, warning it will "massively suffer."

"President Trump's announcement of universal tariffs on the whole world, including the European Union, is a major blow to the world economy. I deeply regret this choice," Von der Leyen said at a news conference.

Her remarks came after Trump signed an executive order Wednesday delivering on his long-promised vow to impose reciprocal tariffs on nations worldwide in a move that has sent markets sharply lower for months.

"The global economy will massively suffer. Uncertainty will spiral and trigger the rise of further protectionism. The consequences will be dire for millions of people around the globe, also for the most vulnerable countries, which are now subject to some of the highest US tariffs, the opposite of what we want to achieve," she added.

"I agree with President Trump that others are taking unfair advantage of the current rules," said Von der Leyen, expressing her readiness to support any effort to make the world trading system "fit for the realities of the global economy."

“But I also want to be clear: Reaching for tariffs as your first and last tool will not fix it,” she added.

“That is why, from the outset, we have always been ready to negotiate with the US, to remove any remaining barriers to Transatlantic trade.

"At the same time, we are prepared to respond. We are already finalizing a first package of countermeasures in response to tariffs on steel,” she said.

Saying the EU will always advocate for and protect its interests and values, Von der Leyen said it is not too late to resolve concerns via dialogue and negotiations.