European countries consider their response to Trump tariffs

CGTN Europe

Donald Trump’s tariffs have rocked global economic policy and left markets in disarray.  CGTN’s Rahul Pathak has the full report Donald Trump’s tariffs have rocked global economic policy and left markets in disarray.  CGTN’s Rahul Pathak has the full report

Transcript

00:00A day after the anti-Trump protest that took place around Europe, European leaders are

00:07formulating their response to the Trump tariffs.

00:10The UK Prime Minister, Sakhir Starmer, has promised to protect British businesses a day

00:15after a 10% tariff on all UK goods exports to America came into force.

00:21Writing in the Sunday Telegraph, Starmer said,

00:24We stand ready to use industrial policy to help shelter British business from the storm.

00:30Some people may feel uncomfortable about this.

00:33The idea the state should intervene directly to shape the market has often been derided.

00:38But we simply cannot cling on to old sentiments when the world is turning this fast.

00:44As well as the 10% tariff, a 25% tariff has also been put on UK car exports.

00:50Jaguar Land Rover has already said it will pour shipments of its cars made in Britain

00:55to the US for a month, while it considered how to mitigate the cost of the new tax.

01:00Meanwhile on Saturday, the French President Emmanuel Macron had a phone call with Starmer

01:05in which the two leaders agreed to closely coordinate their position in tariff discussions.

01:11But while the UK has employed a softly, softly approach in its response to the tariffs, the

01:16European Union is already preparing retaliatory measures against the United States.

01:21The 27-nation bloc is set to approve countermeasures on up to $28 billion worth of US imports

01:29after it was slapped with a 25% tariff by Trump.

01:33EU leaders will meet in Luxembourg on Monday in the first summit since the tariffs were announced.

01:38In a post on X, Macron said while a trade war was in no one's interest, the EU had to

01:43stand united and resolute to protect their citizens and businesses.

01:48Meanwhile the owner of X and Donald Trump's special advisor Elon Musk struck a more conciliatory

01:53tone in an interview with Italy's Deputy Prime Minister Matteo Salvini.

01:58Musk saying he hoped the trade dispute with the EU would one day be resolved.

02:02I hope it is agreed that both Europe and the United States should move ideally in my view

02:09to a zero tariff situation, effectively creating a free trade zone between Europe and North America.

02:15That sentiment was echoed by Italy's Prime Minister Giorgia Meloni, who has pushed for

02:20negotiations with the US.

02:22But it seems her EU partners are gearing up for a full-on transatlantic trade war and

02:27are pushing Meloni to choose a side.

02:29Rahul Pathak, CDTN.

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