European Commission President Ursula von der Leyen said on Tuesday, “we do not necessarily want to retaliate. But if it is necessary, we have a strong plan to do so and we will use it.”
Additional comments
“Will assess US announcements carefully to give calibrated response.”
“All instruments are on the table for countermeasures.”
“We have the power to push back against US tariffs.”
Market reaction
The Euro (EUR) remains unfazed by these headlines, with EUR/USD losing 0.07% on the day to trade near 1.0800 as of writing.