The risks of an aggressive trade policy
Ursula von der Leyen, the leader of the European Commission, stated on Thursday concerning the devastating consequences that could result from the tariffs imposed by the Trump administration. In a speech given from the Uzbekistan, he warned that the global economy could be severely affected.
Increased protectionism and uncertainty
According to Von der Leyen, these tariffs could lead to an increase in uncertainty in markets, which would contribute to an increase in protectionism. However, he made an effort to keep the doors of dialogue open with the American administration, betting on a transition from the confrontation to negotiation.
The European Union as a bastion
The president reaffirmed that the EU is ready to face this situation. He emphasized the unique European market as a safe refuge for both companies and consumers, but made it clear that the Union is not ready to tolerate excess global capacity or dumping.
Immediate economic impacts
Von der Leyen emphasized that the costs of doing business with the United States could increase dramatically, with immediate repercussions globally. Citizens could notice an increase in the cost of life, especially affecting the most vulnerable with the increase in food and medicine prices.
Constructive criticism and opportunity for dialogue
Despite his criticism, Von der Leyen acknowledged that the world commercial system has deficiencies that need to be addressed. He stated his disposal to collaborate in the reformulation of this system, although he warned that the use of tariffs is not the ideal solution.
EU answers to tariffs
The president reported that the European Union is working on a set of countermeasures to respond to tariffs on steel and aluminum, with the aim of protecting their interests and companies in the event that negotiations with the US do not prosper.
Union and solidarity before the storm
In a message to European citizenship, von der Leyen acknowledged the disenchantment that many feel towards the United States. He urged the Union to prepare for the impact of tariffs, emphasizing that the EU force lies in its unity and solidarity.
A collective commitment
Finally, Von der Leyen reaffirmed that if a European country is attacked, everyone else will mobilize in defense. He guaranteed that the European Union will be next to those who suffer the consequences of these measures, reaffirming its commitment to the protection of common interests.