Tariff crisis Reactions to tariffs

EU gives green light to impose retaliatory tariffs on US

EU member states say yes to imposing retaliatory tariffs on the US, AFP learns, citing diplomats.

According to leaked information, the new tariffs cover around 1,600 products. The majority of the tariffs are at 25 percent and are a response to the steel and aluminum tariffs that the US announced in early March.

"The EU believes that the US tariffs are unfair and cause economic damage to both sides as well as to the global economy," writes EU Commission President Ursula von der Leyen in a statement.

TT writes that the tariffs will come into effect in three phases. First on April 15, then in mid-May and finally in early December.

China warns citizens of risks of traveling to the US

China urges its citizens to think before traveling to the US, reports Bloomberg.

“In light of the deteriorating trade relations between China and the United States and security risks in the United States, the Ministry of Culture and Tourism urges Chinese citizens to carefully assess the risks of traveling to the United States and exercise caution,” a statement from the ministry reads.

The statement does not constitute a disincentive to travel to the United States, but is a tightening of the guidelines that were in place before Washington and Beijing entered the ongoing tariff war.

Hungary alone to vote against EU tariffs

Hungary was the only EU country to vote against imposing retaliatory tariffs on American goods today, reports the BBC.

“Such measures would cause more damage to Europe’s economy and citizens by raising prices. The only way forward is negotiations, not revenge,” Foreign Minister Péter Szijjártó wrote on social media.

Hungarian Prime Minister Viktor Orbán is one of Europe's more Trump-friendly leaders, and is also under domestic political pressure on the issue. Hungary has been hit hard by price hikes in recent years, and recently imposed limits on how much profit grocers can make on certain basic goods.