Concerns Over Trump's Tariff Policy: A Global Trade Perspective by Von der Leyen

Impact of Trump's Tariff Policy on Global Markets

In a recent address, European Commission President Ursula von der Leyen voiced her deep concerns regarding Trump's unpredictable tariff policies, stating that these measures will rattle countries across the world. According to her, such tariffs are akin to taxes that negatively impact both consumers and businesses, affecting everyone from Wall Street to Main Street.

EU's Position on Free Trade

Von der Leyen stressed that free trade has historically been a catalyst for global prosperity, lifting billions out of poverty. She pointed out that the IMF's warning regarding century-high tariffs is not surprising, as recent statistics show that U.S. tariffs are at their highest level in a century. The President’s decision to pause an uptick in levies for all nations except China, which faces exorbitant tariffs, only adds to the uncertainty in global markets.

Prospects for EU Trade Relations

Despite the turbulent trade environment, von der Leyen indicated that opportunity still exists for the EU. She mentioned ongoing trade discussions with countries like India, Indonesia, and various nations in the Pacific, emphasizing that the EU remains a fair and reliable trading partner.

Thus, she called upon her colleagues to remain calm and united, reinforcing the European way of trade.