Lower thirds:

00:02 Report by Tessa Walter
00:26 Ursula von der Leyen, EU Commission President 
01:00 Sigrid de Vries, European Auto Manufacturers' Association (EAMA) 
01:28 Bernd Lange, MEP S&D
02:00 Cinzia Alcidi, Centre for European Policy Studies (CEPS)

Script:

00:00 ((Pharma, Wood, then Trump)) 

They will impact everything from pharmaceuticals, semiconductors, to wood products. 

US-President Donald Trump’s tariffs of 20 percent on all imports from the European Union mark the latest escalation in the ongoing trade war between the US and Europe. For the EU, a big net exporter to the US, this could lead to damages reaching tens of billions of euros. 

00.26 

++++Ursula von der Leyen, EU Commission President ++++
I deeply regret this choice. Let's be clear-eyed about the immense consequences. The global economy will massively suffer. Uncertainty will spiral and trigger the rise of further protectionism.

00.40 

The latest package comes in addition to the 25 % import tariffs on cars that have now come into force. A major blow to Europe’s car manufacturers: Approximately 20% of vehicles produced in the EU are exported to the US each year. All of these will now be subject to the new tariffs. 

00.58 

+++ Sigrid de Vries, European Auto Manufacturers' Association (EAMA) +++ 
They will have a devastating impact on European exports to the United States, so they will dampen revenues, market shares and that will have a ripple effect also on all of the supply base in Europe. So it impacts Germany, German manufacturers, but all of the European auto industry at large. 

01.18 

The mood of many members of the European parliament gathered in Strasbourg this week is clear: They want a strong and united reaction from the EU. 

1:26
+++Bernd Lange, MEP S&D+++

I can assure you that the EU stands together in the area of trade. We are 450 million people. We are an economic powerhouse and have many more ways of reacting along with our partners, compared to options available to smaller states.

((Ich kann ihnen versichern, im Bereich Handel steht die EU gemeinsam. Und das ist ja auch klar, wir sind 450 Millionen Menschen. Wir sind eine wirtschaftlich starke Macht und haben auch ganz andere Möglichkeiten zu reagieren, auch mit Partnern, als kleinere Staaten.))

1.47 

EU countermeasures that have already been approved for the 14th of April include iconic American products like bourbon Whiskey or Levi's. Now additional tariffs will be discussed. 

01.58 

+++ Cinzia Alcidi, Centre for European Policy Studies (CEPS)++++ 

They need to strike a balance between what we think is the right political response, which will be to say: You need to stop and we are going to adopt countervailing measures. And the economic reality that is: putting in place countries tariffs could actually be counterproductive for the European economy. 

2.19 

The EU now wants to negotiate with the US and hopes to avert an escalation through counter-tariffs. If not, the EU could retaliate massively - for example with tariffs on financial products and digital services. One thing is clear: The bloc wants to show that the world’s biggest single market can’t be sidelined easily.

 

Ende 2:38