"Damage to Europe in the double -digit billion dollar area"

“Damage to Europe in the double -digit billion dollar area”

By Dr. Kyle Muller

The reactions to Trump’s new customs package followed promptly: the chairman of the trade committee in the EU Parliament, long, spoke in the daily topics from “arbitrariness”. The damage to Europe is in the double -digit billion dollar area. Others also expressed criticism.

US President Donald Trump’s new customs package is huge and hits many countries hard-including the EU member states. Accordingly, the reactions were not long in coming.

The chairman of the trade committee in the EU Parliament, Bernd Lange from the SPD, spoke of “arbitrary”, which is “completely unacceptable”, in the SPD daily topics. The announcements are a “declaration of war”. For a long time, damage in a high double -digit billion dollar area expects the EU. Trump’s tariffs are a declaration of war. However, you are prepared and will react with countermeasures, so long.

Angry reactions and counter -tariffs

A “full disaster” and “a trade policy journey of the US President” called the chief of the German Union MPs in the European Parliament, Daniel Caspary, the customs announcements from the White House. Manfred Weber, President of the European People’s Party EVP in the European Parliament, is ready to defend its interests in the trade dispute with the United States. “Today is not a day of liberation for our American friends, but a day of bitterness,” wrote the CSU politician on the X. Donald Trump’s platform for both sides of the Atlantic. “Europe is united, is ready to defend its interests and openly for fair, determined conversations.”

The Greens also called for this for the service sector, for example an EU digital tax or restrictions on American banks on the European market. The EU Commission has already announced a package with counter-tariffs, which should come into force on April 14th. So far, however, details have not yet been known. EU Commission President Ursula von der Leyen wants to comment in the morning hours.

Follow for Germany too

Foreign trade president Dirk Jandura also expects negative consequences for the German economy. “I say it very openly: We will feel that,” said the President of the Federal Association of Wholesale, Foreign Trade, Services (BGA) of the Reuters news agency. “We will have to implement the tariffs into price increases, and in many cases this means a decline in sales.” In the case of smaller companies that have already been weakened from the past difficult years, that can also mean that. With that it also affects their workers.

The President of the German Association of the Automotive Industry (VDA), Hildegard Müller, described the US step as a fundamental trade policy cut. “It is the departure of the United States from the rule -based global trade order – and thus the departure from the basis for worldwide added value and corresponding growth and prosperity in many regions of the world. This is not an America first, that is America Alone,” said the VDA President.

The Association of Chemical Industry (VCI) regretted the decision of the US government. “Now it is important for everyone involved to keep a cool head,” said VCI general manager Wolfgang Große Entrup. “An escalation spiral would only increase the damage. Our country must not become the game ball of an excessive trade war.” In his reaction, Brussels must remain flexible and in close dialogue with Washington. Europe needs a strong mandate, also in the interest of German industry. “The goal must be a fair solution on both sides – for Europe and the USA,” said Große Entrup.

Emphasized serenity in other countries

The Italian Prime Minister Giorgia Meloni described the US tariffs as “wrong”. Rather, she hopes for a cooperation between the United States and Europe to avoid a trade war, she said. This would weaken the West.

The French industry association FEVS expects a decline in wine and spirits exports of at least 20 percent. The association chairman Gabriel Picard told BFM TV.

Great Britain, according to the US tariffs, will remain “calm and determined” to strive for an economic agreement with the USA given the US tariffs. “We have a number of instruments available and will not hesitate to act,” says an explanation. In it, Reynolds also points out that the United States is the closest ally of the kingdom. The United States has planned tariffs of ten percent for Great Britain.

According to Prime Minister Anthony Albanese, Australia will do without retaliation duties. “We will continue to be emphasized that these unjustified tariffs are lifted for our exporters,” he said. The surcharges announced by the United States are “not a friend’s act”. The measure will drive up the cost of American households.

Effects also on the stock exchanges

However, Canada’s Prime Minister Mark Carney announced countermeasures. These would be announced on Thursday, he said in front of a cabinet meeting. “It is important to act in a targeted and emphasis, and that’s exactly what we will do.” According to the US Presidential Office, the new base custom of ten percent does not apply to Canada. However, the US tariffs of 25 percent for many goods in connection with drug and immigration issues remain in force.

The incumbent South Korean President Han Duck-Soo ordered immediate measures to support companies affected by the US tariffs. This was announced by the Ministry of Industry. “Since the global trade war has become reality, the government has to use all its skills to overcome the trade crisis,” said Han, according to the ministry, at a meeting with the finance minister and other top officials.

The shares of large technology groups clearly gave up in post-excessive US trade. Apple temporarily falls by 6.1 percent, Microsoft by two percent and Nvidia by 4.7 percent. Amazon gives up five percent, Meta is also 4.7 percent and Tesla 5.9 percent. For Alphabet it goes down three percent, 3.9 percent for Alibaba and 2.8 percent for Netflix. Companies in the chip industry also have feathers in the post -interconnected trade.

With information from Thomas Spickhofen, ARD studio Brussels

Kyle Muller
About the author
Dr. Kyle Muller
Dr. Kyle Mueller is a Research Analyst at the Harris County Juvenile Probation Department in Houston, Texas. He earned his Ph.D. in Criminal Justice from Texas State University in 2019, where his dissertation was supervised by Dr. Scott Bowman. Dr. Mueller's research focuses on juvenile justice policies and evidence-based interventions aimed at reducing recidivism among youth offenders. His work has been instrumental in shaping data-driven strategies within the juvenile justice system, emphasizing rehabilitation and community engagement.
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