Transatlantic Trade Tensions: Trump's Tariff Turmoil

In a move that has stunned international markets, U.S. President Donald Trump announced a 30% tariff on imported goods from the European Union and Mexico, effective August 1. This decision, posted on Trump's social media, sends shockwaves across the Atlantic, stirring debates about its potential economic fallout.

European Commission President Ursula von der Leyen criticized the tariffs, highlighting their potential to disrupt critical transatlantic supply chains and harm both businesses and consumers. She emphasized the EU's dedication to finding a negotiated solution, while preparing proportionate countermeasures to safeguard European interests.

Political leaders across Europe, including Italian Prime Minister Giorgia Meloni and Dutch Prime Minister Dick Schoof, echoed concerns, stressing the importance of dialogue to prevent exacerbating the trade dispute. Industry leaders warned that tariff impositions could damage economic recovery and international cooperation.

(With inputs from agencies.)