EU Prepares Counter-Tariff Measures Amidst U.S. Trade Tensions

The European Union is ready to implement countermeasures against U.S. tariffs if ongoing negotiations falter. German Finance Minister, Joerg Kukies, indicated that prolonged uncertainty due to U.S. trade policies heightens market anxiety. Kukies emphasized the need for the EU to enhance its digital sector competitiveness.

BERLIN, April 11 (Reuters) - The European Union is poised to counter U.S. tariffs if the current trade negotiations with Washington collapse, according to German Finance Minister, Joerg Kukies. Speaking in Warsaw before a meeting of EU finance ministers, Kukies emphasized the necessity for the U.S. to understand the potential European responses.

Tensions have resurfaced in global markets due to U.S. President Donald Trump's ongoing trade disputes with China, compounded by recession anxieties. Kukies noted that Trump's recent decision to pause duties might not alleviate uncertainties, leaving markets and executives uneasy.

Kukies further mentioned that, although the European Commission is readying its response mechanisms, the lack of viable alternatives to some U.S. digital services presents challenges. He urged efforts to boost the competitiveness of the EU digital sector to mitigate such dependencies.

(With inputs from agencies.)