{"id":138784,"date":"2025-04-03T07:35:50","date_gmt":"2025-04-03T04:35:50","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/trumps-tariffs-how-might-europe-respond-to-unleashing-of-trade-war\/"},"modified":"2025-04-03T07:35:50","modified_gmt":"2025-04-03T04:35:50","slug":"trumps-tariffs-how-might-europe-respond-to-unleashing-of-trade-war","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/news\/trumps-tariffs-how-might-europe-respond-to-unleashing-of-trade-war\/","title":{"rendered":"Trump\u2019s tariffs: how might Europe respond to unleashing of trade war?"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/138784\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>Donald Trump is getting ready to impose sweeping and immediate tariffs on all foreign goods, thereby unleashing a trade war and upending the multilateral trading system that the US helped to build after the second world war. Here is how Europe might respond:<\/p>\n<p><em>Retaliation<\/em><br \/>\nThe EU has already rejected one possible option: fold your cards. This message was reaffirmed by the European Commission president, Ursula von der Leyen, this week: \u201cIf it is necessary we have a strong plan to retaliate and we will use it.\u201d EU officials hope for a negotiated settlement, but previous offers to buy more US liquified fossil gas \u2013 a trend already happening since Russia\u2019s invasion of Ukraine \u2013 appear to have fallen on stony ground.<\/p>\n<p>The EU approach contrasts with the UK, which is preparing to reduce the headline rate of its digital services tax in an attempt to placate Trump. But vowing retaliation is only the start. The questions are about what response the EU will have, how quickly it can be marshalled and whether divisions between member states will undermine the tough talk.<\/p>\n<p><em>The bourbon and blue jeans plan<\/em><br \/>\nImposing levies on emblematic US goods is the tried and tested European response to Trump tariffs. After Trump announced tariffs on steel and aluminium last month, the EU said it was preparing retaliatory duties targeting up to \u20ac26bn of US goods, such as bourbon, Harley-Davidson motorbikes and a wide array of farm produce and industrial goods.<\/p>\n<p>The bloc has yet to retaliate against Trump\u2019s levies on cars and car parts that are due to take effect on 3 April. In theory, the EU could levy more tariffs over these plans, as well as the latest \u201cliberation day\u201d duties. But EU officials will try to avoid hefty duties on goods that the bloc needs. Ignacio Garc\u00eda Bercero, a former senior EU trade negotiator, said: \u201cWhat matters is that you maximise the political impact and you limit to the maximum the economic impact [on the EU].\u201d<\/p>\n<p><em>Hit US banks and tech companies<\/em><br \/>\nIn theory the EU has a long list of options to hit back at US economic interests: restrict JP Morgan\u2019s business in Europe, tax Facebook and Meta, stop US companies bidding for European government contracts or limit their intellectual property rights. US services may be a tempting target, as the US runs a \u20ac109bn ($117bn) surplus in services with the EU, according to EU figures \u2013 although Trump is fixated on the US goods deficit with the EU, which is $236bn (\u20ac218bn), according to American data. One senior EU official, speaking after the steel and aluminium tariffs in March, said the bloc was certainly not excluding a bigger, better and \u201ceven more creative\u201d response, citing intellectual property rights and investment measures.<\/p>\n<p><a rel=\"noopener\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/apr\/02\/trumps-tariffs-how-might-europe-respond-to-unleashing-of-trade-war\">Read more&gt;&gt;<\/a><\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/apr\/02\/trumps-tariffs-how-might-europe-respond-to-unleashing-of-trade-war\">The Guardian<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/csr-news-en\/trumps-tariffs-how-might-europe-respond-to-unleashing-of-trade-war\/\">Trump\u2019s tariffs: how might Europe respond to unleashing of trade war?<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[555,16394,3873],"class_list":["post-138784","post","type-post","status-publish","format-standard","hentry","category-news","tag-csr-news-en","tag-tariffs","tag-trump"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/138784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=138784"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/138784\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=138784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=138784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=138784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}