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EU ready to respond to new US tariffs: countermeasures in force from mid-April
Commissioner Maros Sefcovic and ECB President Christine Lagarde explain the economic impact of new tariff measures between the US and Europe
The European Union is considering bringing old and new countermeasures against US tariffs into force in mid-April. This was stated by Trade Commissioner Maros Sefcovic during a hearing in the European Parliament, explaining that in light of the US announcement of new duties on 2 April, the timing of EU countermeasures is being realigned. In this way, Sefcovic explained, ‘it will be possible to consult member states on both lists at the same time, giving more time for negotiations with the US’.
ECB President Christine Lagarde pointed out that a 25% tariff on European imports would reduce eurozone growth by 0.3 percentage points in the first year. If the EU responded with equivalent duties, the drop could rise to 0.5 percentage points. Lagarde also warned that higher tariffs could increase inflation by half a percentage point, due to retaliatory measures and a possible weakening of the euro.
The situation remains uncertain, with the risk that the reconfiguration of global supply chains could amplify the economic effects of tariffs in the long term.
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