U.S. President Donald Trump’s announcement of a new 20% tariff on the European Union drew a sharp rebuke from European Commission President Ursula von der Leyen. She said it was a major blow to the world economy and the consequences “will be dire for millions of people.

The tariffs announced by U.S. President Donald Trump will put a strain on the United States' exports as well, said German Chancellor Olaf Scholz on Thursday.

Leaders from around the world reacted to President Trump’s sweeping tariffs, many saying they regret the decision from the White House. European Commission President Ursula von der Leyen said the tariffs are a “major blow to the world economy.