Von der Leyen emphasizes that escalation would mainly benefit Russia and China. With the deal, transatlantic cooperation remains intact, even though European exporters have to make sacrifices. She refers to it as a “strong, albeit not perfect, compromise.”
The US is not only imposing extra burdens on European imports. China, Mexico, and Canada are also affected, but with significantly higher import penalties. President Trump presents this as protection for American industry and jobs, while simultaneously pressuring trade partners to further open their markets.
The European Union has chosen not to include retaliatory tariffs on American products. According to Von der Leyen, this would primarily lead to a downward spiral causing even greater harm to both sides. By adopting a restrained stance, Europe keeps room for diplomacy and future corrections, she says.
Promotion
The consequences for the European chemical industry are significant. Companies fear higher costs and loss of market share in the US, an important sales market. Investments in new factories or innovation projects risk being postponed or relocated elsewhere as a result.
The car industry is also concerned. The sector, which heavily depends on exports to the US, fears that the new tariffs will benefit competitors from Asia and Mexico. Manufacturers, already struggling with high costs for the transition to electric vehicles, face new pressure on their margins.
Yet relief is also felt in Brussels. Political leaders emphasize that the EU has averted a trade war and retained access to the American market. Damage is thus shared, but the economic relationship remains intact.
The agreement was received with cautious optimism in financial markets. Investors appreciate the clarity, although analysts see the deal mainly as a temporary pause rather than a lasting solution.
Von der Leyen insists that cooperation with Washington is crucial, even if it means pain for European sectors. Better an imperfect compromise, she argues, than a devastating trade war.