Bloc’s leaders also promise to protect EU interests after US president announces escalation in aggressive trade policy

Summary

The EU and its leaders warned of swift retaliation if Donald Trump enacts new 25% tariffs on steel and aluminum imports, as he announced over the weekend.

The European Commission criticized the move as “unjustified” and vowed to protect EU businesses.

German Chancellor Olaf Scholz and French President Emmanuel Macron pledged countermeasures, with Macron warning tariffs would also hurt the U.S.

The UK government said it was monitoring developments, while UK Steel called the potential tariffs “devastating.” The EU previously responded to Trump-era tariffs with retaliatory measures.

  • Kraiden@kbin.earth
    85·
    21 hours ago

    sigh all I’m hearing is prices for every fucking thing are going to skyrocket… globally…

    • jackeryjoo@lemmy.worldEnglish
      19·
      18 hours ago

      That’s correct. This is what they want. Drive stocks down, do a bunch of buybacks, scrap the tariffs, watch line go back up, profit.

      • P1nkman@lemmy.worldEnglish
        2·
        9 hours ago

        Hopefully, the rest of the world will just go “Who are you? We already have that we need from these countries, so thanks, but no thanks” and the US will finally see that they fucked up royally.

        • ynthrepic@lemmy.worldEnglish
          2·
          5 hours ago

          Nah, it’s all about the money. It’s literally just trolling with people lives to make money off of their inevitable fear

          The only way to win, is if people who have invested money aren’t afraid of losing it. Which of course almost nobody, because when gambling the house almost always wins. Which is to say an increasingly small minority get to win the lottery of a financially free life.

    • yeehawEnglish
      33·
      21 hours ago

      Time to huddle down and stop buying shit. Maintain and repair old vehicles, download your media, go through your backlog of videogames, etc.

      • ByteJunk@lemmy.worldEnglish
        61·
        10 hours ago

        All lovely ideas, but if I own a small business, do I just close the doors when my source materials and energy start costing more than my finished product?

        • ubergeek@lemmy.todayEnglish
          7·
          6 hours ago

          You raise prices, and sell less. And let all customers know its the new Trump Tax they are paying.

        • TsarVul@lemmy.worldEnglish
          71·
          8 hours ago

          Increase the price of the product, prepare for less clients and weather the storm. We’re all eating a free market-sourced shit sandwich out here.