EU Plans Retaliatory Measures Against Trump's Tariffs

The European Union is preparing to enact retaliatory measures in response to President Trump's recent tariffs, which impose a 20% duty on EU imports. European Commission President Ursula von der Leyen announced plans for a coordinated package of countermeasures, as trade ministers assess the economic fallout from the tariffs affecting a significant portion of EU exports to the U.S. Concerns are mounting over the tariffs' impact on the Eurozone economy, with a senior ECB official stating they could trigger a negative demand shock and hinder growth. Simultaneously, European bank stocks have plunged, reflecting investor fears of recession and lower interest rates, which could diminish banks' profitability. Experts warn that the trade war could extend beyond goods and into financial services, potentially affecting U.S. firms operating in Europe. This escalating trade tension underscores the fragility of global trade relations amidst geopolitical instability.