The global order is “shifting more deeply than at any time since the Cold War ended,” von der Leyen added.
Trump announced the reciprocal tariffs on April 2 — hitting the EU with a 20 percent levy and most of the rest of the world with a baseline tariff of 10 percent. As financial markets melted down a week later, Trump suspended the higher tariffs for 90 days to open the way for talks on a trade deal.
In the EU’s case, it is still paying that 10 percent rate, as well as 25 percent on exports of steel, aluminum and cars — while the U.S. and China have hit each other with triple-digit tariffs. If Trump reimposes those reciprocal tariffs, global merchandise trade could shrink by 1.5 percent this year, with North America hardest hit, the World Trade Organization forecasts.
Von der Leyen has contrasted this volatility by playing up Europe’s steadfastness. Amid such upheaval, confidence in the EU was on the rise, she argued, including from the bloc’s own citizens, referring to a Eurobarometer survey showing support for membership in the bloc at 74 percent, its highest level in 40 years.
“That says something. In the middle of the chaos, Europe stands firm, grounded in values, ready to shape what comes next,” von der Leyen said.
Still, it’s unclear if the U.S. or the EU’s approach is winning.