Europe hopes for Trump tariffs deal but braces for impact
Europe's leaders had been bracing for "Trump's trade war," but the reality of a 20% blanket US tariff still came as a shock.
"This decision is a catastrophe for the economic world," said French Prime Minister François Bayrou, News.Az reports citing BBC.
"The consequences will be dire for millions of people around the globe," said the EU's Commission chief Ursula von der Leyen, who was on a trip to Central Asia.
The message from the EU, which has the task of responding on behalf of its 27 member states, is that Europe is ready to negotiate with the US but at the same time poised to hit back too.
Europe 'calibrates' its response
EU Trade Commissioner Maros Sefcovic aims to talk tariffs with his US counterparts on Friday.
"We'll act in a calm, carefully phased, unified way, as we calibrate our response, while allowing adequate time for talks," he said.
For every European country, President Donald Trump's tariffs will be a severe blow, and national governments have been trying to allay the fears of industry and commerce.
Italy's Giorgia Meloni – who until Wednesday seemed more reluctant than others to retaliate in kind against the US – cleared her diary and hastily summoned ministers and business leaders to an emergency summit.
Italy exports €1.6bn (£1.35bn) worth of agrifood products and €2bn worth of wine to the US, Alessandro Apolito of the country's main farmers' organisation Coldiretti told the BBC.
Aside from economic losses, he says there is a risk that US consumers will turn to imitations, capturing market share that would otherwise go to authentic Italian products.
In Spain, Prime Minister Pedro Sánchez rejected Trump's claim that the EU was imposing 39% tariffs on US goods, insisting in reality it was just 3%.
"It's just an excuse to punish countries and implement sterile protectionism. The trade war will affect everyone, but it'll hit the one imposing it most of all," he warned.
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