Trump Hits EU With 20% Tariffs; Germany Pushes for Strong Response and Reduced Foreign Dependence

German Economy Minister Robert Habeck said Thursday that Trump would "buckle under pressure" if Europe unites to counter his tariff policies, according to CNBC. Habeck urged Germany and the EU to apply pressure and invest in AI, cloud infrastructure, and space to reduce reliance on foreign powers. He warned against appeasing Trump, advocating for a “day of determination.” Trump imposed 20% tariffs on EU goods under a new “reciprocal tariff” policy on Wednesday. Germany stands to be heavily impacted as the U.S.’s top trade partner in Europe. For more coverage on tariffs and how they impact your portfolio, visit benzinga.com.