Christine Lagarde, president of the European Central Bank (ECB), emphasized that the upcoming tariffs from the United States should encourage Europe to pursue greater commercial independence.

The first tranche of tariffs, valued at €4.5 billion, is expected to be implemented shortly, with additional tariffs on further products amounting to €18 billion planned by mid-April.

The tariffs will impact various sectors, including aluminum, steel, and automobiles, with the first tranche set to take effect on April 2.

Lagarde referred to these tariffs as a catalyst for Europe to assert its economic future.

The ECB has predicted that Trump's trade war could lead to a potential 0.3% reduction in Eurozone GDP, which could escalate to 0.5% if Europe retaliates.

U.S. President Donald Trump has dubbed the day of the tariff announcement 'Liberation Day', signaling a significant shift in trade dynamics.

In light of these tariffs, Lagarde stressed the need for Europe to take control of its own economic destiny.

A spokesperson for the European Commission indicated that the EU is prepared to respond appropriately to U.S. actions, prioritizing negotiated solutions over conflict.

Following the initial steel and aluminum tariffs, the automobile sector will also face new tariffs starting on the same date.

Lagarde reiterated that trade wars result in losses for all parties involved, highlighting the negative effects of tariffs on inflation and economic uncertainty.

The European Commission plans a measured response to U.S. tariffs, with initial tariffs on U.S. products worth €26 billion scheduled to begin in early April.

Olof Gill, the European Commission's trade spokesperson, stated that the list of U.S. products targeted for EU countermeasures will be carefully selected to maximize impact on the U.S. while minimizing effects on the European economy.