The US and EU are facing renewed tensions over trade, with the US imposing a 25% tariff on steel and aluminum imports. EU Commission President Ursula von der Leyen criticized tariffs as detrimental to business and consumers. Economist Vassilios Psarras argues that tariffs will negatively impact production and may lead to inflation for EU citizens. Research suggests that US tariffs will primarily hurt the US economy first. Psarras believes the EU can find alternatives to many American products but remains dependent on the US financial system. A potential US recession could have global repercussions, and the EU must prepare for such scenarios. Teljes cikk (Euronews.com)