Trump's tariff announcements shake global markets and EU response
Donald Trump's recent decision to impose sweeping tariffs on international trade has triggered significant instability in global markets, compelling leaders worldwide to respond.
On April 7, 2025, foreign and trade ministers from the European Union will meet in Brussels and Luxembourg to deliberate on a collective EU stance in response to these controversial policies.
European Commission President Ursula von der Leyen has stated that the EU will soon issue a coordinated response to Trump's tariffs, which have already drawn sharp criticism. While the EU has promised quick action, the political maneuvering and timing remain uncertain.
The U.S. administration has reported that over 50 countries have reached out to negotiate the tariffs, with discussions expected to take several months. "Many nations have contacted us regarding tariff reductions and other trade matters," said U.S. Treasury Secretary Scott Bessent, though no specific countries were named.
However, despite the wave of negotiations, Trump remains steadfast in his stance. He accuses global economic powers of unfair trade practices that undermine U.S. interests, even as his tariffs lead to financial uncertainty. Trump's administration imposed a 10% universal tariff on imported goods to the U.S., which took effect on Saturday, with further increases planned for certain countries, including the European Union and China.
China, quick to retaliate, has already announced its own set of tariffs in response. Meanwhile, European officials have intensified their diplomatic efforts, with key meetings planned to finalize their response. British Prime Minister Keir Starmer emphasized that the traditional global trade order is being upended, echoing concerns voiced by other world leaders.
In the U.S., the market response has been severe. Wall Street saw its market value shrink by more than $6 trillion in just two days, reflecting the deep uncertainty caused by the tariff policies. With these economic tremors continuing to spread, all eyes will be on the EU’s response and the broader implications for international trade relations.
Translation by Iurie Tataru
