EU chief Ursula von der Leyen said Tuesday the bloc still hopes for a “negotiated solution” to US tariffs looming this week, but that “all instruments are on the table” to hit back if necessary.
“We are open to negotiations,” the European Commission chief told a European Parliament session, “but we have a strong plan to retaliate if necessary.”
US President Donald Trump is set to announce a new raft of tariffs against multiple countries as early as Tuesday night, in what he has dubbed a “Liberation Day” to redress supposedly unfair trade imbalances.
“We will assess tomorrow’s announcements carefully to calibrate our response,” said von der Leyen, adding she had been consulting with EU leaders on the “next steps.”
The commission leads the 27-country bloc’s trade policy and has been in charge of discussions with the United States to avoid a trade war.
“Europe has not started this confrontation,” said von der Leyen. “Our objective is a negotiated solution. But of course, if need be, we will protect our interests, our people and our companies.”
Europe will respond with “unity and determination,” she promised.
Trump’s aggressive tariffs strategy is fuelling fears of a global trade war, risking a chain reaction of retaliation by major trading partners like China, Canada and the European Union.
The EU has already been hit by several US tariff announcements since Trump returned to office in January, including a 25-percent levy on auto imports coming into force on Thursday.
The bloc’s producers were also affected by a 25-percent US tariff on steel and aluminium from around the world — to which Brussels has already promised countermeasures to begin in mid-April.