“Outnumbered” discusses that European Commission President Ursula von Der Leyen will provide the US with “zero-zero” tariffs on industrial products as the market responds to President Donald Trump's global trade policy.
On Wednesday, the European Union announced its approval of retaliatory tariffs on $23 billion in US goods as a “measure” against the president. Donald Trump's Customs duty.
“The EU believes that US tariffs will be unfair and harmful, and will cause economic harm to both sides, just like the global economy.” European Commission He said in a statement. “The EU states a clear preference to find out what has been negotiated with the US. This is balanced and mutually beneficial.”
The European Commission did not immediately provide a list of affected products, but tariffs will begin to come into effect on April 15th. The committee also said it could suspend tariffs at any time “if the United States agrees to the outcome of a fair and balanced negotiation.”
The move comes after Trump announced 20% tariffs on EU imports last week.
China imports increase US tariffs from 34% to 84%
Cargo ships full of transport containers will be seen at Oakland Port as trade tensions spread through US tariffs in Oakland, California on March 6th. (Reuters/Reuters Photos)
On Monday, European Commission President Ursula von der Leyen said the European Union, a bloc of 27 countries, is “ready to negotiate” with Trump over tariffs, saying “we have provided zero tariffs on industrial products.”
Von Der Leyen also said, “In parallel, we are preparing a potential list for retaliation if this is necessary,” but “but there is a negotiated solution.”
UBS Global Wealth Management Nadia Lovell discusses how tariffs can change the Federal Reserve rate cut calculations for “making money.”
“Earthquake shift” in trade triggers a broken message from Trump's tariffs
Trump's mutual tariffs also escalated the trade war with China, with US goods being taxed on Wednesday on 84%.
The escalation began last week when Trump first announced a 34% mutual tariff on China.
Sen. Joni Ernst of R-Iowa discusses a report on the Defense Health Organization workers working on taxpayer money and union benefits, calling for patience following President Donald Trump's tariffs and trade negotiations.
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Trump then imposed an additional 50% tariff on Beijing after China refused to lift retaliation tariffs. This tariff will bring 104% total US tariffs on Chinese goods, in addition to the previously imposed 20% and 34% of 34% on China.
Greg Norman and Anders Hagstrom of Fox News Digital contributed to this report.
