00:00Let me be clear. Europe did not start this confrontation. We think it is wrong.
00:06But my message to you today is that we have everything we need to protect our people and our prosperity.
00:15We have the largest single market in the world. We have the strength to negotiate.
00:21We have the power to push back.
00:23Tariffs are taxes for the Americans on their groceries and their medication.
00:27Tariffs will just fuel inflation. Europe holds a lot of cards.
00:33From trade to technology to the size of our market, our objective is a negotiated solution.
00:41But of course, if need be, we will protect our interests, our people and our companies.
00:48And I want to be very clear on the aim of our response.
00:53We think that this confrontation is in no one's interest.
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