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European Commission President Ursula von der Leyen on Tuesday spoke about the growing use of economic coercion -- such as sanctions, export controls, and tariffs and reaffirmed Europe's commitment to safeguarding its economic security.
While delivering a speech at the EU Ambassadors Conference 2025, von der Leyen said, "We know that there will be an increased use of threats and of economic coercion tools such as sanctions, export controls, and tariffs. We have seen this again in the last few days and how quickly things can escalate. I want to be clear: Europe will safeguard its economic and national security." She added, "But it is also important that we strike the right balance. One that places emphasis on the positive tools of economic statecraft - such as trade, investment, innovation and production. We want to avoid a global race to the bottom that is in no one's interests. That has to be our primary focus - even as we prepare for all possible scenarios. We want to focus on strengthening the economic ties that deliver for Europeans. Those that help to create jobs, bring down prices and strengthen our security." Notably, von der Leyen's remarks came after US President Donald Trump announced that the country would impose an additional 10 per cent tariff on all goods imported from China on top of existing duties.Trump also announced he is implementing a 25 per cent additional tariff on imports from Canada and Mexico. Highlighting the "transatlantic partnership" between the European Union and the United States, von der Leyen during the speech emphasised the economic "integration" between the two, which together represent almost 30 per cent of global trade in goods and services. "And that is of course the case when it comes to the United States, a country with which we have the strongest of ties. The transatlantic partnership has been the cornerstone of peace and prosperity for the best part of the century. We share many of the same preoccupations - whether on regional stability or the global economy," von der Leyen said. She added, "No other economies in the world are as integrated in such an advanced way, as the European Union and the United States. Together, the EU and the US represent almost 30 per cent of global trade in goods and services. And more than 40 per cent of global GDP. European companies in the US employ 3.5 million Americans. And another million American jobs depend directly on trade with Europe. The whole trade volume between us is USD 1.5 trillion. The point is that a lot is at stake for both sides. There are jobs, businesses, industries here and in the US that rely on the transatlantic partnership. So we want to make it work. And not only because of our historic ties but because it is simply smart business." (ANI)
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