EU responds to Trump tariffs
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The New York Times |
President Trump’s tariffs mean that companies across the European Union and around the world are at risk of losing access to the world’s largest consumer market.
Bloomberg L.P. |
Trump announced the steepest American tariffs in more than a century, with a 10% tariff on all exporters to the US and even higher duties on some 60 nations.
BBC |
Analysts said it was likely to lead to higher prices in the US and slower growth around the world.
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PARIS (Reuters) - The European Union should not respond to U.S. President Donald Trump's reciprocal tariffs with exactly the same counter-measures as it would impact EU consumers, French Finance Minister Eric Lombard said on Friday.
European Union trade commissioner Maros Sefcovic said on Friday that he told U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer that U.S tariffs were unjustified. "A frank 2h exchange with Sec.
France’s finance minister said the European Union shouldn’t respond to President Trump's reciprocal tariffs with similar countermeasures as it would hurt Europe’s economy and consumers. "We are working on a package of responses that can go beyond tariffs to bring the U.
"Purchasers of luxury goods are probably not very price-sensitive, so sellers will be able to pass the tariff on to buyers in the form of higher prices," Randall Holcombe, professor of economics at Florida State University,
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European shares dipped on Friday, heading for a steep weekly loss, as investors grappled with prospects of a global recession after U.S. President Donald Trump announced sweeping tariffs on trading partners.
The European Union is dialing back the pace of its planned retaliation against U.S. steel and aluminum tariffs, a senior official said Thursday. The move comes after U.S. Treasury Secretary Scott Bessent warned trading partners might risk still higher levies if they retaliate.