EU retaliates against metal levies with countermeasures worth up to US$28b

If we were to go to a real trade war, where trade would be dampened significantly, that would have severe consequences,

Lagarde told BBC's HARDTalk programme

You know what it's doing at the moment? Stirring European energy. It's a big wake-up call for Europe. Maybe this is a European moment, yet again,

she said

There is only so much manufacturers can absorb, and car giants look set to be faced with the double whammy of higher costs and ultra cautious consumers, unwilling to splash out on big ticket items amid the uncertainty,

she added

That is a target for President Trump, not only the German car industry, but the car industry in general. They're already affected,

she said, pointing to the example of Swedish automotive giant Volvo in her native Gothenburg

Cecilia Malmströmswedish politician

There are a few around president Trump perhaps, but I would say 95 % of economists across the world share the view that tariffs are basically not a good thing,

said Malmström

It would also be more expensive for consumers, all of which would cost growth and prosperity, on both sides of the Atlantic. The tariff level of 25% currently mentioned by President Trump is a provocation,

she told DW in a statement

It's a lose-lose game,

she told DW,

It could be tariffs, it could be other kinds of restrictions or export limitations, it could affect investments, it could be public procurement restrictions. It's a quite big toolbox,

she noted

But of course, nobody wants this to go on for years and years. Our industries are already suffering in Europe, and the damage will be big also in the US,

she said

We don't like tariffs because we think that tariffs are taxes, and they are bad for business and they're bad for consumers,

von der Leyen told reporters in South Africa after a meeting with President Cyril Ramaphosa

We've always said that we will, at the same time, defend our interests,

she said

Markets are unnerved by the punishment that the administration, convinced that the U.S. is a victim, is willing to inflict on close allies,

he concluded

It is not clear where the Trump administration's current path of 'shock and awe' is supposed to lead,

the former International Monetary Fund chief economist wrote in Project Syndicate this week

The risk that stuff starts to come under pressure and becomes a structural issue in the markets is not something I would, by any means, underplay."

Referring to exorbitant privilege, Kasman added

Dominic LeBlancfinance Minister

We will not stand idly by,

Canada's Finance Minister Dominic LeBlanc said of the latest tariffs moves

Whatever they charge us, we're charging them,

Trump told reporters at the White House

The claim that the dollar's attractiveness is an exorbitant burden rather than an exorbitant privilege is unpersuasive, especially when those making such arguments are so reluctant to give up the burden,

he said, referring to the administration's regular support for the dollar's global status while promoting policies that undermine it

The simple conclusion is that we should aim at a negotiated solution,

said the Finnish central bank governor at a policy panel in Berlin on Thursday

We deeply regret this measure [by the U.S.]. Tariffs are taxes, they are bad for business and worse for consumers, they are disrupting supply chains, they bring uncertainty for the economy, jobs are at stake, prices are up and nobody needs that, neither side needs that,

she said during a news conference

Micheál Martinprime Minister

Of course I'm going to respond."

Asked if he would reciprocate, Trump said, while sitting alongside Ireland's Prime Minister Micheál Martin