Worldwide tariffs imposed by US President Donald Trump shock friend and foe alike. (File photo)
US President Donald Trump is sending shock waves through the global economy by announcing what he calls reciprocal tariffs on more than 180 countries and territories across the planet,
Washington is hitting traditional allies and enemies alike, the European Union, China, India and Japan have been slapped with tariffs at 20% while the rest of the world has been subjected to 10% duties.
The European Union has said it is ready to respond by adopting retaliatory measures on US imports.
President Trump's announcement of universal tariffs on the whole world, including the European Union, is a major blow to the world economy.
At the same time, we are prepared to respond.
We are already finalizing the first package of countermeasures in response to tariffs on steel, and we are now preparing for further countermeasures to protect our interests and our businesses if negotiations fail.
Ursula Von der Leyen, European Commission, President
According to a YouGov survey published on Tuesday, a majority of European Union citizens across some of the largest European economies, such as France, Germany, Italy, Spain, Denmark and Sweden, support imposing retaliatory measures on US imports.
