EU Reprimands US Over 30% Tariff on Exports

Ursula von der Leyen, President of the European Commission, criticized the 30% tariffs announced by US President Donald Trump on July 13, targeting EU exports.

This escalation endangers vital supply chains and market stability, risking both economies’ businesses and consumers.

EU Criticizes U.S. Over 30% Export Tariffs, Calls for Talks

Ursula von der Leyen’s statement denounced the 30% U.S. tariff as highly disruptive. Speaking for the EU, she emphasized a readiness to negotiate a resolution by August 1, while preparing proportional countermeasures. Von der Leyen stated, “The EU will continue working toward an agreement by August 1 and remains ready to take all necessary steps to safeguard EU interests.”

Immediate implications, including potential supply chain disruptions affecting both businesses and consumers, are expected to have serious economic impacts across global markets.

Bernd Lange labeled the tariffs “a slap in the face,” advocating for robust EU countermeasures. He emphasized the need for anti-coercion tools possibly targeting US businesses in EU markets.

Global Economic Stability Threatened by U.S.-EU Trade Conflict

Did you know? During the 2018 trade war between the US and China, Bitcoin trading volumes notably increased as investors sought crypto as a safe haven amid market instability.

Bitcoin (BTC) recently recorded a price of $117,586.56, with a $2.34 trillion market cap and a 63.75% dominance. It saw a -0.08% price change in 24 hours. CoinMarketCap highlights a substantial 90-day increase of 39.85%.

Coincu research team observes that the ongoing trade disputes could spur heightened volatility in Bitcoin markets as investors seek alternatives amid economic uncertainty. History shows similar conditions can drive trading volume growth in non-sovereign assets.