FX.co ★ EU Slams Trump’s New Tariffs as Threat to Global Trade

European Commission President Ursula von der Leyen criticized U.S. President Trump’s new global tariffs, describing them as "a significant setback for the global economy." She cautioned that these measures will foster uncertainty, protectionism, and negative consequences. Speaking in Uzbekistan on Thursday, von der Leyen called for dialogue to resolve trade barriers but confirmed that the European Union is prepared to respond, with plans for countermeasures against steel tariffs nearly finalized. Trump's extensive trade policy encompasses a 10% universal tariff, additional duties on 60 specifically targeted countries, and 25% tariffs on car imports. This development comes on the heels of last month's steel and aluminum tariffs, which have already put a strain on the EU industry. Trump justifies the measures as a correction of unfair trade imbalances and has initiated a review of foreign regulations, such as the EU’s Digital Markets Act, which he claims are detrimental to U.S. companies.