The European Commission announced on March 12 that the European Union will impose counter-tariffs on 26 billion euros (about $28 billion) worth of U.S. goods starting next month. This decision comes in response to the United States imposing blanket tariffs on steel and aluminum imports.
In the streets of Madrid, locals expressed their concerns over the escalating trade tensions between the EU and the U.S. \”The Americans have made a serious mistake, believing this would be a solution to their economic problems,\” said Juan Allende, a resident of the Spanish capital.
Nicolas, another Madrid resident, emphasized the long-term impact of the U.S. tariffs. \”It will take a long time for the EU and the U.S. to rebuild trust,\” he said. He also expressed hope that the European Union would gain more autonomy as a result of these challenges.
The sentiments in Madrid reflect a broader unease about the potential consequences of a trade war between the two economic powers. Many fear that the tariffs could not only harm the economies on both sides but also strain diplomatic relations.
As the implementation date approaches, young adults and businesses in the Global South are watching closely, considering how these international policies might ripple through the global market.
