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European countries oppose US tariffs on EU goods, call for retaliation

China

China

China

European countries oppose US tariffs on EU goods, call for retaliation

2025-07-13 10:42 Last Updated At:14:47

Leaders and senior officials of several European countries on Saturday voiced opposition to U.S. President Donald Trump's announcement of sweeping 30 percent tariffs on European Union (EU) exports, urging the EU to implement countermeasures to defend its interests and maintain trade negotiations with the United States.

French President Emmanuel Macron strongly opposed the U.S. tariffs on EU goods, expressing deep dissatisfaction with the U.S. move and condemning the decision by the U.S. government.

He stressed that if no agreement is reached between EU and the United States by August 1, the EU should expedite preparations for credible countermeasures, using all available tools, including anti-coercion mechanisms.

Germany's Minister for Economic Affairs and Energy Katherina Reiche said that the U.S. tariff decision will not only harm European exporters but also have a significant impact on its own economy and consumers.

The EU should engage in pragmatic negotiations with the United States before the tariffs take effect, focusing on finding a solution to key points of clash, Reiche said, adding that Germany will fully support the EU's negotiating position.

Dutch Prime Minister Dick Schoof criticized the U.S. tariff decision as the wrong approach to solving issues, which has caused grave concern. He called on the EU to remain united and determined in pursuing a mutually beneficial solution with the United States.

Swedish Prime Minister Ulf Kristersson expressed regret over the U.S. tariff decision, saying that the Swedish government supports the EU's ongoing efforts to seek a solution through negotiations with the United States. He also urged the EU to take strong countermeasures when necessary.

Kristersson said Sweden advocates for free trade and international cooperation, emphasizing that in escalating trade conflicts, all parties stand to lose.

European Council President Antonio Costa said free and fair trade can drive prosperity, create job opportunities, and strengthen supply chains, and in contrast, tariffs exacerbate inflation, create uncertainty, and hinder economic growth.

Costa said that the EU will continue to establish solid trade partnerships globally and stands ready to safeguard its interests, noting the European Council fully supports the European Commission in reaching a fair agreement with the United States.

European countries oppose US tariffs on EU goods, call for retaliation

European countries oppose US tariffs on EU goods, call for retaliation

European countries oppose US tariffs on EU goods, call for retaliation

European countries oppose US tariffs on EU goods, call for retaliation

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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