At the opening of the Hanover industrial tradefair, Scholz said Europe still seeks cooperation with the United States butwarned that the bloc would retaliate if forced to. “Europe’s goal remainscooperation,” he said. “But if the US leaves us no choice, such as with thetariffs on steel and aluminum, we as the EU will react as one.”
Scholz also rejected protectionist approaches,saying his answer to “my country first” policies was “more free trade, greatercompetitiveness and more technological sovereignty.”
Trump has been enforcing trade tariffs onnearly every country. White House trade adviser Peter Navarro said that Trump’splanned tariffs would generate more than $6 trillion in federal revenue overthe next decade — a projection that some analysts warned would mark the largestpeacetime tax increase in modern US history.
Navarro’s comments raised concerns that Trumpmay be preparing sweeping new trade measures for Wednesday, which he hasdescribed as “Liberation Day.” He did not clarify whether the figuresrepresented official White House policy or one side of an internal debate.
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