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Trump's universal tariffs "a major blow" to world economy: EC president

0 Comment(s)Print E-mail Xinhua, April 3, 2025
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BRUSSELS, April 3 (Xinhua) -- European Commission (EC) President Ursula von der Leyen expressed deep regret on Thursday over the U.S. move to impose universal tariffs on the whole world, warning that the impact could be devastating.

In a statement responding to the U.S. move, von der Leyen said that U.S. President Donald Trump's announcement of universal tariffs on the whole world, including the European Union (EU), is a major blow to the world economy.

"The global economy will massively suffer," she said. "Uncertainty will spiral and trigger the rise of further protectionism. The consequences will be dire for millions of people around the globe."

She said that the most vulnerable countries and populations would suffer the harshest effects, citing rising inflation and higher costs for everyday goods. "Millions of citizens will face higher grocery bills. Medication will cost more, as well as transportation," von der Leyen said.

Business activity would also take a hit, she warned, citing increased bureaucracy, disrupted supply chains, and growing operational costs. "The cost of doing business with the United States will drastically increase."

Von der Leyen further criticized the lack of strategic clarity in the U.S. approach. "There seems to be no order in the disorder. No clear path through the complexity and chaos that is being created as all U.S. trading partners are hit," she said.

While the EU has always been ready to negotiate with the United States, and to remove any remaining barriers to transatlantic trade, von der Leyen said that the EU is prepared to respond.

Amid widespread opposition, Trump on Wednesday signed an executive order on so-called "reciprocal tariffs," imposing a 10 percent "minimum baseline tariff" and higher rates on certain trading partners. Enditem

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