Have the article read by OpenAI (Beta). Please note that AI translations may take some time to process.Davos, Switzerland (dpa) – European Commission President Ursula von der Leyen warned on Tuesday of an escalating economic conflict with the new US administration under Donald Trump.
“No other economies in the world are as integrated as we are,” von der Leyen said.
“European companies employ in the United States 3.5 million Americans, and another million American jobs depend directly on trade with Europe,” she said, speaking at a gathering of the World Economic Forum in Davos, Switzerland.
During his election campaign, Trump had mentioned plans to introduce new tariffs of 10% to 20% on imports from the European Union. Trump hopes that higher tariffs on imports to the US will boost domestic industries.
Atlantic supply chains
Von der Leyen did not mention Trump’s name in her speech but stressed the deep ties between both economies.
“A lot is at stake for both sides,” she said, adding that trade between the EU and US is worth €1.5 trillion, which represents 30% of global trade.
“Entire supply chains stretch on both sides of the Atlantic,” she said.
American aeroplanes and medicines are made with European materials and tools, the EU imports many digital services and large quantities of liquefied natural gas (LNG) from the US, the commission president said.
Von der Leyen said it was a priority for the EU to engage with the new US administration.
“Our first priority will be to engage early, discuss common interests and be ready to negotiate,” she said.
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