EU, China Denounce US Tariffs, Warn of Trade Wars' Impact

The recent announcement of a 20% tariff by the U.S. on European Union goods has elicited strong reactions from EU leaders, with European Commission President Ursula von der Leyen warning of significant global economic repercussions. Von der Leyen emphasized that the tariffs are a 'major blow' to the world economy, prompting discussions of countermeasures from the EU. German Chancellor Olaf Scholz and French President Emmanuel Macron also criticized the tariffs, with Macron labeling them 'brutal and unfounded,' while Italian Prime Minister Giorgia Meloni cautioned against retaliatory measures. Additionally, China condemned the tariffs and announced its own countermeasures, asserting that trade wars yield no winners. The U.S. administration believes these tariffs will promote investment in the U.S. and create jobs, but many leaders are advocating for negotiations rather than retaliation. The situation continues to evolve as global markets react to the impending trade tensions.