European Union reacts to global tariffs by U.S.

Speaking Thursday in Uzbekistan, European Union President Ursula von der Leyen called global tariffs imposed by President Donald Trump and the U.S. a "major blow" to businesses and consumers worldwide, adding that Europe is ready to respond. On Wednesday, Trump rolled out a set of tariffs that he said would free the United States from a reliance on foreign goods. The president announced a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the U.S., but this won't change the existing tariffs, the White House said. Trump added that he would be imposing a 20% tariff on imports from the European Union.