Global political leaders have expressed alarm following President Trump's announcement of new tariffs ranging from 10% to 54% on imported goods, impacting major allies such as the EU, South Korea, Japan, and China. Ursula von der Leyen called it a 'major blow to the world economy,' highlighting expected inflation and damage to businesses. In response, the EU is preparing countermeasures against American products if no agreement is reached, emphasizing the importance of a rules-based trading system. Chancellor Olaf Scholz noted the tariffs could negatively affect U.S. exports due to intricate supply chain interdependencies.
Ursula von der Leyen, president of the European Commission, said the tariffs were a 'major blow to the world economy,' warning of higher inflation and disrupted supply chains.
Olaf Scholz, chancellor of Germany, stated that the new tariffs will harm U.S. exports due to 'complex supply chain dependencies that send parts back and forth a hundred times.'
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