GENEVA

European Commission President Ursula von der Leyen on Wednesday reaffirmed the EU's openness to trade and investment, telling American businesses that the bloc wants to strengthen transatlantic ties.

In a post on X following her discussions with the American Chamber of Commerce to the EU (AmChamEU), von der Leyen emphasized the importance of maintaining smooth and strong EU-US supply chains.

"Europe is open for trade and investment," she said. "We negotiate, not escalate, to keep EU-US supply chains smooth and strong."​

The US has implemented a 25% tariff on imported steel and aluminum from the EU, and a 20% tariff on a wide range of other goods.

The bloc has approved retaliatory tariffs on $23 billion worth of US goods, which will go into force starting next Tuesday. The moves are expected to impact many imports such as motorcycles, agriculture, and clothing.

Von der Leyen also highlighted the EU's efforts to enhance its competitiveness by simplifying regulations and deepening the single market, encouraging investment within Europe. She said: "Invest here, benefit here."​

The escalating tariff measures have raised concerns among industry leaders and economists about the potential for a full-scale trade war, which could have significant implications for global markets and economic stability.​