Europe Seeks Tariff Deal with Trump, Braces for Trade War

⏺ European leaders were stunned by Trump’s 20% blanket tariffs, despite months of trade war preparations. France called the move a "catastrophe," while EU officials vowed a measured but firm response.

⏺ Talks between EU Trade Commissioner Maros Sefcovic and US counterparts are set for Friday. However, countries like Italy and Spain are already feeling the pinch. Italy’s wine and agrifood exports to the US—worth billions—are in limbo, while Spain warns of a major export drop. Germany, still without a new chancellor, sees the tariffs as an "attack on global trade."

⏺ Europe’s response comes in two phases: an initial €26bn counter-tariff package in mid-April, followed by broader measures potentially targeting US tech and public contracts. Some fear an escalating trade war, with small businesses among the hardest hit.

⏺ As negotiations continue, European markets remain volatile, with stocks like Adidas losing 12%. Whether diplomacy prevails or economic retaliation escalates remains to be seen.

☝️ **Trade crypto on ****ByВit **