Through its website, the European Commission released this Thursday the statement by the head of the organization, Ursula von der Leyen, who said she “deeply” regretted Washington’s decisions and urged people to assess the “immense consequences.”

According to her, uncertainty will skyrocket and lead to the rise of greater protectionism, with “disastrous repercussions for millions of people around the world.”

She also noted the particular case of vulnerable countries, which are now subject to some of the highest US tariffs.

The impact will be immediately noticeable: millions of citizens will face high shopping bills, medicines will cost more, as will transportation, she explained.

All businesses, large and small, “will suffer from day one,” amid increased uncertainty, disruption of supply chains, and burdensome bureaucracy, the EU representative added, also warning of the expected increase in the cost of doing business with the United States.

There is no clear path through the complexity and chaos being created by affecting all of the northern power’s trading partners, von der Leyen estimated, recalling the reciprocal benefits enjoyed by Europeans and their North American partners over decades.

The global trading system has serious flaws, the official stated, supporting Trump’s view that “others are taking unfair advantage of the current rules.”

However, resorting to tariffs as a first and last tool will not solve the problem, the official insisted, in a repeated call for dialogue to eliminate any barriers to transatlantic trade.

At the same time, she confirmed, the European Commission is finalizing a first package of countermeasures in response to the steel tariffs and “we are preparing for other countermeasures to protect our interests and our companies if the negotiations fail.”

Furthermore, the EU will closely monitor the indirect effects of the tariffs, “because we cannot absorb global excess capacity nor will we accept dumping in our market,” she argued.

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