Statement by President von der Leyen on the announcement of universal tariffs by the US

President Trumps announcement of global tariffs, including those on the EU, is a major blow to the world economy. I deeply regret this decision. The global economy will suffer greatly. Uncertainty will rise, leading to further protectionism. The consequences will be severe worldwide, especially for vulnerable countries now subject to the highest US tariffs. Consumers globally will feel the impact immediately, with higher prices for groceries and medicines. Inflation will increase, particularly affecting the most vulnerable citizens. Businesses, large and small, will suffer from uncertainty and supply chain disruptions. The cost of doing business with the US will significantly rise. Over the past eighty years, trade between Europe and the US has created millions of jobs, and consumers have benefited from lower prices. However, the global trading system has flaws. I agree with President Trump that others are unfairly benefiting from current rules, and I am ready to support efforts to adjust the trading system. However, tariffs are not the solution. We have always been willing to negotiate with the US to remove trade barriers. At the same time, we are preparing countermeasures to protect our interests. We will also closely monitor the indirect effects of these tariffs. As Europeans, we will always defend our interests and values. There is an alternative path: negotiations. This is why our Trade Commissioner, Maros Šefčovič, is in constant dialogue with his US counterparts. Lets move from confrontation to negotiation. Finally, I would like to speak directly to my fellow Europeans. Yes, we must brace for the impact, but Europe has everything needed to weather this storm. Our unity is our strength. Europe has the largest single market in the world - 450 million consumers - that is our safe harbor in turbulent times. Europe will stand by those directly affected. We have already announced new measures to support the steel and automotive sectors. We will engage in strategic dialogues with the steel, automotive, and pharmaceutical sectors. Europe stands together for our businesses, for our workers, and for all Europeans. And we will continue to build bridges with all those who, like us, value fair and rules-based trade as the foundation for shared prosperity. Thank you.