EU leaders and companies are reeling and markets are plunging as Donald Trump’s tariffs, ranging from 20 to 27.5%, are hitting EU exports to the US worth 380 billion euro.

The 27-nation bloc’s foreign ministers held emergency talks on Monday, and afterwards, it was revealed that Trump, for now, is not willing to negotiate.

Despite efforts and opening we haven’t seen the real engagement which would lead to the mutually acceptable solution, because it has to be fair for both sides.

Maros Sefcovic, EU Trade Commissioner

Euroskeptic to the core, Trump has refused to engage with EU chief Ursula von der Leyen, reportedly because he does not recognize her authority to negotiate on behalf of the bloc.

She was asked about this on Monday, but declined to address the snub directly.

We are open for negotiations, and that in parallel, we are preparing a potential list of retaliation and other measures for retaliation, if this is necessary.

Ursula von er Leyen, EU Commission President

Member EU states are divided on how hard to strike back against Trump with counter measures.

There is no unity in this 27-member block about what’s going to happen, and this is in the advantage of Donald Trump, because he can say, Okay, this is something which I can make some leverage about.

Johann Weick, Global Trade Expert

EU officials say it’s the biggest disruption to global trade since World War Two. The significance of the shift is not lost on European citizens.

There will be job losses, I think definitely, because people, they won’t be at, afford to keep as many people on.

Member of Public 01

I don’t really understand why he’s doing it, because he will hurt himself, just my point of view. So, yeah, well, it’s a loss, loss situation, I think.

Member of Public 02

It’s going to be more expensive to live and to do all your goods import, export, so it is going to affect the economy. 

Member of Public 03

The most concerning question now is how far this trade war will go and what it could mean for already hard pressed EU consumers who are looking to their political leaders to stand up to Trump on this and a whole range of other issues.