(Reuters) - Goods imported from both the European Union and Mexico will face a 30% U.S. tariff rate starting August 1, U.S. President Donald Trump said in letters posted to his social media platform
Trump's 30% Tariff Announcement Sparks Reactions from EU and Mexico
(Reuters) - Goods imported from both the European Union and Mexico will face a 30% U.S. tariff rate starting on August 1, U.S. President Donald Trump said in letters posted to his social media platform on Saturday.
Following are reactions to the announcement:
EUROPEAN COUNCIL PRESIDENT ANTONIO COSTA
The European Union "remains firm, united and ready to protect (its) interests".
"Tariffs are taxes. They fuel inflation, create uncertainty and hinder economic growth. We will continue to build strong trade partnerships worldwide."
HILDEGARD MUELLER, PRESIDENT OF GERMAN AUTO INDUSTRY ASSOCIATION VDA:
"It is regrettable that there is a threat of further escalation of the trade conflict and that a solution has still not been found for the tariffs of 27.5% on car imports to the USA, which remain in force. The costs for our companies are already in the billions - and the sum is growing every day. Suppliers are also significantly affected - also in light of the additional 30 per cent tariffs on goods from Mexico that have now been announced.
"The EU and the U.S. must continue to find a solution as quickly as possible to avert the impending consequences on both sides of the Atlantic."
US SENATOR AMY KLOBUCHAR FROM MINNESOTA, A DEMOCRAT:
"The President is announcing yet another round of tariffs on the EU and Mexico. How does increasing prices across the board like this help people in our country? Answer: it doesn’t. It’s a $2000 + annual Trump tariff tax on every family."
URSULA VON DER LEYEN, PRESIDENT OF THE EUROPEAN COMMISSION
"Imposing 30 percent tariffs on EU exports would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic.
"The EU has consistently prioritized a negotiated solution with the U.S., reflecting our commitment to dialogue, stability, and a constructive transatlantic partnership.
"We remain ready to continue working towards an agreement by August 1. At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required."
ITALIAN PRIME MINISTER GIORGIA MELONI'S OFFICE IN STATEMENT
"We trust in the goodwill of all players in the field in order to reach a fair agreement that can strengthen the West as a whole, given that - particularly in the current scenario - it would make no sense to trigger a trade clash between the two sides of the Atlantic.
"It is now crucial to remain focused on the negotiations, avoiding polarisations that would make reaching an agreement more complex."
DUTCH PRIME MINISTER DICK SCHOOF
"The US announcement of 30% tariffs on goods imported from the European Union is concerning and not the way forward. The European Commission can count on our full support. As the EU we must remain united and resolute in pursuing an outcome with the United States that is mutually beneficial."
IRISH FOREIGN AFFAIRS AND TRADE MINISTER SIMON HARRIS
"There is no necessity to escalate the situation or to further increase the additional tariffs which have been imposed on the EU.
"The EU will remain united and focused as negotiations continue between now and 1 August."
WOLFGANG NIEDERMARK, SENIOR OFFICIAL IN GERMAN INDUSTRIAL LOBBY BDI, IN STATEMENT
"President Trump's announcement is an alarm signal for industry on both sides of the Atlantic. A trade conflict between two economic areas as closely intertwined as the EU and the U.S. is damaging to economic recovery, innovative strength and ultimately trust in international cooperation.
"Tariffs as a means of exerting political pressure lead to higher costs, jeopardize jobs and undermine international competitiveness, both in Europe and in the U.S.
"BDI is calling on the German government, the European Commission and the U.S. administration to find solutions very quickly in an objective dialogue and to avoid an escalation."
DAN O'BRIEN, CHIEF ECONOMIST, INSTITUTE OF INTERNATIONAL AND EUROPEAN AFFAIRS, IN POST ON X
"A 30% tariff on EU goods going to US would have a significant trade destruction effect. The threat to meet any EU tariff retaliation with a further and equal percentage point increase in the US tariff highly provocative. Chances of wider EU-US economic conflict have risen."
CYRUS DE LA RUBIA, CHIEF ECONOMIST, HAMBURG COMMERCIAL BANK
"For the EU, this is bad news and means a high burden for the export industry, as the US is the most important export destination outside the EU.
"The EU should take a hard line in negotiations, because model calculations show that tariffs against the EU have a stronger negative effect in the US than in the eurozone.
"Trump is overlooking the fact that the economic impact in the form of higher inflation, higher interest rates, and slower growth will probably only be felt after a certain delay. The One Big Beautiful Bill is not powerful enough to offset the negative effects of tariffs."
(Compiled by EMEA Editing Desk)
