financetom
Business
financetom
/
Business
/
Europe should activate countermeasures against Trump tariffs, lawmaker says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Europe should activate countermeasures against Trump tariffs, lawmaker says
Jul 12, 2025 12:32 PM

BERLIN (Reuters) -A senior European lawmaker said on Saturday Brussels should react immediately with countermeasures against U.S. President Donald Trump's "outrageous" threat to hike tariffs on imports from the European Union.

The EU had been negotiating intensively with Washington for more than three weeks and had made concessions, said Bernd Lange, the head of the European Parliament's trade committee.

The bloc had also suspended all countermeasures after the U.S. imposed an initial tariff of 20% on European imports in April.

"It is brazen and disrespectful to increase the tariffs on European goods announced on April 2 from 20% to 30%," Lange told Reuters.

"This is a slap in the face for the negotiations. This is no way to deal with a key trading partner," he added.

Europe should make it clear that these "unfair trade practices" were unacceptable, Lange said.

"We have postponed the first stage of our countermeasures for the time being, but I am firmly convinced that they must now be implemented immediately," he said.

"The first list of countermeasures must be activated on Monday as planned, and the second list should also follow quickly."

(Reporting by Andreas Rinke, writing by John Revill, editing by Thomas Seythal)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Renault cuts 300 jobs at van factory as European market slows
Renault cuts 300 jobs at van factory as European market slows
Mar 11, 2025
PARIS (Reuters) - Renault Group will cut 300 jobs at a van factory in northern France, the carmaker said on Tuesday, responding to slowing European demand for commercial vehicles in the face of growing economic uncertainty. The French company, which is the European van market leader under its Renault brand, makes about 14% of its sales from the vehicles used...
Update: Endeavour Silver Jumps 18% as Q4 Adjusted Earnings Beat Analysts' Estimates
Update: Endeavour Silver Jumps 18% as Q4 Adjusted Earnings Beat Analysts' Estimates
Mar 11, 2025
12:17 PM EDT, 03/11/2025 (MT Newswires) -- (Updates shares.) Endeavour Silver ( EXK ) was last seen up 18% as the company beat analysts' adjusted earnings expectations for the fourth quarter. The company booked adjusted earnings, excluding most one-time items, of US$4.8 million, or US$0.02 per share, beating the analyst consensus loss per share forecast of US$0.01 compiled by FactSet,...
Arvinas, Pfizer Breast Cancer Drug Fails To Show Progression-Free Survival Benefit In Trial
Arvinas, Pfizer Breast Cancer Drug Fails To Show Progression-Free Survival Benefit In Trial
Mar 11, 2025
Arvinas, Inc. ( ARVN ) and Pfizer Inc ( PFE ). released topline results from the Phase 3 VERITAC-2 trial evaluating vepdegestrant monotherapy versus fulvestrant in adult patients with advanced or metastatic breast cancer. The results of the trial, released Monday, included estrogen receptor-positive, human epidermal growth factor receptor 2-negative (ER+/HER2-) advanced or metastatic breast cancer patients whose disease progressed following prior...
Viking Holdings Beats On Q4 Earnings, Says 88% Passenger Cruise Days For FY25 Already Booked
Viking Holdings Beats On Q4 Earnings, Says 88% Passenger Cruise Days For FY25 Already Booked
Mar 11, 2025
Viking Holdings Ltd ( VIK ) shares are trading lower on Tuesday. The company reported fourth-quarter adjusted earnings per share of 45 cents, beating the street view of 34 cents. Quarterly sales of $1.35 billion (+20.5% year over year) outpaced the analyst consensus estimate of $1.34 billion. The quarterly sales were driven by increased Capacity Passenger Cruise Days (PCDs) and...
Copyright 2023-2026 - www.financetom.com All Rights Reserved