By KUMAIL JAFFER

Published: 16:39 BST, 4 April 2025 | Updated: 16:39 BST, 4 April 2025

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China has urged the European Union to join forces against Donald Trump 's move to impose punitive tariffs on much of the world. The bloc has already responded fiercely to the US President's decision to impose a 20 per cent tariff on all EU goods sold to the US .

China has urged the European Union to join forces against Donald Trump ‘s move to impose punitive tariffs on much of the world. The bloc has already responded fiercely to the US President’s decision to impose a 20 per cent tariff on all EU goods sold to the US .

French President Emmanuel Macron has called for firms on the continent to 'suspend' all investments in the US while other European leaders strongly condemned the policy, which Trump sees as a method to encourage US consumers to buy more American goods. Now China, which faces an additional 34 per cent tariff on top of an existing 20 per cent levy, has offered to work with Europe to force a U-turn from the White House . China's Vice Minister of Commerce Ling Ji told Hungarian counterparts that Beijing wants to work with the bloc to uphold a rules-based trading system.

French President Emmanuel Macron has called for firms on the continent to ‘suspend’ all investments in the US while other European leaders strongly condemned the policy, which Trump sees as a method to encourage US consumers to buy more American goods. Now China, which faces an additional 34 per cent tariff on top of an existing 20 per cent levy, has offered to work with Europe to force a U-turn from the White House . China’s Vice Minister of Commerce Ling Ji told Hungarian counterparts that Beijing wants to work with the bloc to uphold a rules-based trading system.

In a meeting of the China-Hungary Economic Joint Committee in Budapest, he said they wanted to resolutely oppose protectionism, unilateralism and bullying, according to state media. Earlier, Beijing condemned what it saw as 'unilateral bullying' and said it would take 'necessary measures to resolutely safeguard legitimate rights and interests. China's comments came as European stocks dipped again this morning and EU leaders appeared divided over how to retaliate.

In a meeting of the China-Hungary Economic Joint Committee in Budapest, he said they wanted to resolutely oppose protectionism, unilateralism and bullying, according to state media. Earlier, Beijing condemned what it saw as ‘unilateral bullying’ and said it would take ‘necessary measures to resolutely safeguard legitimate rights and interests. China’s comments came as European stocks dipped again this morning and EU leaders appeared divided over how to retaliate.

The pan-European STOXX index fell 0.9 per cent, taking its losses for the week to 4.4 per cent, the sharpest weekly decline since June 2022. Germany's Dax fell 2.1 per cent, and France's Cac 40 index went down by 1.6 per cent. Trump claimed that he treated the continent harshly because the EU was 'ripping off' the US. 'Now we're going to charge the European Union,' he said in the White House Rose Garden.

The pan-European STOXX index fell 0.9 per cent, taking its losses for the week to 4.4 per cent, the sharpest weekly decline since June 2022. Germany’s Dax fell 2.1 per cent, and France’s Cac 40 index went down by 1.6 per cent. Trump claimed that he treated the continent harshly because the EU was ‘ripping off’ the US. ‘Now we’re going to charge the European Union,’ he said in the White House Rose Garden.

'They're very tough. Very, very tough traders. You know, you think of the European Union, very friendly. 'They rip us off. It's so sad to see. It's so pathetic.' The EU has a huge trade surplus with the US, selling €180billion worth more of goods than it buys. Macron subsequently told European firms to halt billions in US investments until the tariff situation is 'clarified'.

‘They’re very tough. Very, very tough traders. You know, you think of the European Union, very friendly. ‘They rip us off. It’s so sad to see. It’s so pathetic.’ The EU has a huge trade surplus with the US, selling €180billion worth more of goods than it buys. Macron subsequently told European firms to halt billions in US investments until the tariff situation is ‘clarified’.

He also hinted at proposals to take measures against the US tech sector 'where the United States benefits enormously from Europe.' Spain's prime minister, Pedro Sanchez, said Trump's tariffs run 'contrary to the interests of millions of citizens on this side of the Atlantic and in the US, who will unfortunately see their businesses and their purchase power'. He added: 'It goes against everyone and everything.'

He also hinted at proposals to take measures against the US tech sector ‘where the United States benefits enormously from Europe.’ Spain’s prime minister, Pedro Sanchez, said Trump’s tariffs run ‘contrary to the interests of millions of citizens on this side of the Atlantic and in the US, who will unfortunately see their businesses and their purchase power’. He added: ‘It goes against everyone and everything.’

Germany's outgoing chancellor Olaf Scholz said Trump's decision was 'fundamentally wrong' and 'an attack on a trade system that has created prosperity all round the world, itself an American achievement'. And the head of the European Commission, Ursula von der Leyen, claimed the EU was prepared to respond as she described the tariffs as 'a major blow to the world economy'.

Germany’s outgoing chancellor Olaf Scholz said Trump’s decision was ‘fundamentally wrong’ and ‘an attack on a trade system that has created prosperity all round the world, itself an American achievement’. And the head of the European Commission, Ursula von der Leyen, claimed the EU was prepared to respond as she described the tariffs as ‘a major blow to the world economy’.

But earlier today Irish premier Micheal Martin said it was important that the European bloc adopts a "strategic" approach to retaliation on products imported from the US, to avoid further punishment. Italian Prime Minister Girogia Meloni agreed that any response must be carefully considered, adding: 'We must not fuel alarmism, it's not a catastrophe. 'I'm not convinced that the best way to respond to tariffs is with other tariffs.'

But earlier today Irish premier Micheal Martin said it was important that the European bloc adopts a “strategic” approach to retaliation on products imported from the US, to avoid further punishment. Italian Prime Minister Girogia Meloni agreed that any response must be carefully considered, adding: ‘We must not fuel alarmism, it’s not a catastrophe. ‘I’m not convinced that the best way to respond to tariffs is with other tariffs.’

The EU was already expected to announce retaliatory tariffs on US consumer and industrial goods in response to steel and aluminum levies imposed last month. There could also be further measures to react to a 25 per cent tariff on EU cars that came into force on April 3. Trump has already taken aim at Europe over defence spending, with the continent forced to mobilise hundreds of millions in loans in a desperate scramble to boost military capabilities.

The EU was already expected to announce retaliatory tariffs on US consumer and industrial goods in response to steel and aluminum levies imposed last month. There could also be further measures to react to a 25 per cent tariff on EU cars that came into force on April 3. Trump has already taken aim at Europe over defence spending, with the continent forced to mobilise hundreds of millions in loans in a desperate scramble to boost military capabilities.

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Macron tells European firms to freeze billions in US investments

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