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Bloomberg Daybreak: Europe Edition
UPDATE: EU Will Impose 'Countermeasures' Against Trump Tariffs
Feb 11, 2025
Kevin Whitelaw, Bloomberg's Brussels Bureau Chief, discusses the EU's firm response to potential U.S. tariffs on steel and aluminum, emphasizing their strategy for countermeasures. He analyzes the implications for international trade and touches on exemptions for Australia despite President Trump's hard stance. Whitelaw also highlights the rising tensions affecting transatlantic relations and the urgency of these economic shifts, particularly regarding Germany's position in the trade landscape. The conversation underscores the significance of European unity amidst increasing nationalism.
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Quick takeaways
- The European Union is prepared to implement countermeasures against U.S. tariffs, emphasizing the need for negotiations to mitigate impacts.
- Germany could face significant political and economic challenges due to proposed tariffs, influencing unity among political parties and election strategies.
Deep dives
EU's Response to US Tariffs
The European Union has formally announced its intention to respond to proposed U.S. tariffs on steel and aluminum, which President Trump threatens to impose. The EU considers these tariffs unlawful and has indicated that if implemented, they will enforce countermeasures. European Commission President Ursula von der Leyen emphasized that the EU is preparing for various forms of retaliation, which could mirror previous measures taken during a similar conflict in the past, such as tariffs on American goods like Harley Davidson motorcycles and Levi jeans. There is a strong emphasis on negotiations, as the EU seeks to engage with the Trump administration to potentially mitigate or avert the tariff's impact before its scheduled implementation.
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