Donald Trump agrees to delay 50% tariff on European goods
The annual trade in goods and services between the EU and the US is valued at €1.6 trillion. So it's little surprise that Donald Trump's threat to impose a 50% tariff on all imports from the 27-member bloc starting next Sunday has sent shockwaves through Brussels and beyond.
They've treated us very badly over the years.
Donald Trump, US President
Poland, which currently holds the EU's rotating presidency, insists it has a strategy to respond.
... and that strategy is to negotiate, get a good deal, at the same time, prepare balancing measures, if necessary, look for other markets.
Michal Baranowski, Polish Economy Minister
Experts warn that 50% tariffs could trigger an economic collapse on the scale of the 2008-2009 financial crisis.
Across the EU, citizens already grappling with a cost of living crisis have been reacting with alarm to Donald Trump's threat.
Yeah, of course, I'm concerned like these prices, especially for us, these prices are very high. We can't go outside anymore, just like for to eat something. We have to to save our money, and it's hard for us to (do), paying these prices.
EU Citizen 01
The price is already super high for everyone, especially for young people, it's known that we cannot afford to live like this, and so we are concerned.
EU Citizen 02
It is clear that EU officials are hoping that his latest threat is merely a bluff.
A tariff war benefits nobody, and that if we're going to enter a protectionist road to the bottom race, then the biggest losers are, will be the European and American consumers.
Roberta Metsola, EU Parliament President
The European Commission holds huge power over the EU's trade policy, but growing doubts are being raised about the strength of its leadership under Ursula von der Leyen.
For example, following pressure from certain countries, the EU is now reviewing its trade relations with Israel.
Von der Leyen is refusing to say whether she personally supports that review, and with respect to the latest trade threats from the United States, so far, we've heard absolutely nothing from her.
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