EU discusses US tariff response with auto, steel, pharma executives

The President of the European Commission, Ursula von der Leyen, on Monday held a call with metals industry representatives and will speak to the automobile sector later to discuss how to respond to US tariffs.

DAILY POST reports that the calls aimed to collect more data to strategise further trade counter-measures beyond Brussels' upcoming response to Washington's previously announced steel duties, which will be voted on later this week.

A third call with the European pharmaceuticals industry is planned for Tuesday.

Asian equity markets were said to have sunk, European shares crashed to a 16-month low and oil prices plummeted on Monday as investors feared the duties Trump announced last week could lead to higher prices, weaker demand and potentially lead to a global recession.

According to the EU Commission boss’ letter, the EU would later this year propose a trade measure replacing the steel safeguards as of 1 July 2026, providing a highly effective level of protection against negative trade-related effects caused by global over-capacities.

“The views from the sector will be key in further elaborating our common response to the US tariffs,” she said.

According to the European Automobile Manufacturers Association, ACEA, the industry group in Brussels, the call with the European auto industry was scheduled for 3:30 p.m. (1330 GMT).

A spokesperson for ACEA said that the Commission wanted to gather industry analysis on the possible impact of US tariffs on the EU automotive sector and to explore proposals for the most effective EU response.

The European Commission, late last week, initially invited the chief executives of EU-headquartered big pharma companies for a meeting.