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NRIPage | Articles | EU Prepares Trade Countermeasures Against Potential US Tariffs | Get Business News. Grow and Thrive in the Modern Market around the world - NRI Page
German Chancellor Olaf Scholz warned on Monday that the European Union would take countermeasures if the United States proceeded with imposing additional tariffs on EU exports.
Speaking upon his arrival at an EU summit in Brussels, Scholz emphasized Europe's economic strength and its ability to respond decisively. "As a strong economic region, we have the capacity to take independent action and implement our own trade policies in response," he stated.
While stressing the importance of a cooperative approach, Scholz made it clear that Europe would not hesitate to defend its economic interests if necessary. "We must and will take action if required, but our ultimate goal should be to foster collaboration rather than escalate tensions. Mutual understanding begins with recognizing our own strength—Europe has the power and means to respond effectively," he added.
His remarks come in light of growing trade tensions, as US President Donald Trump has already imposed punitive tariffs on imports from China, Canada, and Mexico. He has also threatened similar measures against the European Union, citing what he views as an unfair trade surplus, particularly in Germany's favor.
Scholz pushed back against this perspective, highlighting the mutual benefits of free trade between the EU and the US. "Both sides gain from the unrestricted exchange of goods and services. If new tariffs are introduced, it would not only harm European businesses and consumers but also have negative consequences for the US economy," he warned.
The German chancellor's comments reflect broader concerns among EU leaders about the potential for a transatlantic trade war, which could disrupt global supply chains, increase consumer costs, and weaken economic growth on both sides. European officials are now weighing possible retaliatory measures, including imposing tariffs on American products, should Washington move forward with its threats.
As discussions continue, Scholz reaffirmed Europe's commitment to protecting its industries while advocating for dialogue and negotiation as the preferred path forward.
