US EditionUS tariffs on European goods threaten to shake up the world’s largest 2-way trade relationship
UNITED STATES, JUL 6 – Tariffs threaten to raise prices on European goods in the U.S. with potential 50% hikes, while EU warns of retaliatory tariffs on hundreds of American products, risking economic losses on both sides.
- In early April, President Donald Trump introduced a 20% tariff on products originating from the European Union, but shortly afterward reduced the rate to 10% and postponed its enforcement until July 9 amid ongoing trade negotiations.
- This move stemmed from long-term U.S. grievances regarding the European Union's substantial trade surplus of 198 billion euros and efforts to boost American manufacturing by limiting foreign imports.
- The tariffs increased prices on many goods, causing consumers and retailers to adjust buying habits, with 37% reporting tariffs influence their online shopping and significant declines in categories like office supplies and electronics.
- According to a 2024 Eurostat report, EU-U.S. trade reached 1.7 trillion euros , and tariffs could cost the EU 0.3% of GDP and the U.S. 0.7%, with LVMH's CEO warning production might move to the U.S. to avoid tariffs.
- The tariffs and possible retaliation risk disrupting the largest transatlantic trade relationship, pressuring negotiations and potentially raising costs mostly for U.S. consumers, while businesses seek longer-term adjustments.
157 Articles
157 Articles
Euro zone bond yields inch higher as traders await tariff news
LONDON: Euro zone bond yields nudged up in early trading on Tuesday, a muted reaction to the United States' announcement of new tariffs on several trading partners as traders waited for further details and to see what would happen to the EU. © New Straits Times Press (M) Bhd
Winemakers in France's Burgundy region rethinking their relationship with the U.S.
Winemakers in the Burgundy region of France are worried they will lose U.S. customers because of potential higher tariffs that may take hold in August if current trade talks fail.
The Epoch Times
Zero HedgeWhy Metal Recyclers Are Optimistic About Tariffs
The recycled metals industry is growing domestically and internationally, in part fueled by the rapid expansion of construction and automotive manufacturing. Now, tariffs may be giving it a boost. The U.S. market for scrap metal recycling registered a growth of 3.7 percent between 2017 and 2021. The global recycled metals market is expected to expand 6 percent from 2025 to 2034, according to an analysis by Precedence Research. It was valued at $…
US tariffs on European goods threaten to shake up the world's largest trade relationship - Sentinel Colorado
"On the thorny issues of regulations, consumer standards and taxes, the EU and its member states cannot give much ground," Holger Schmieding, chief economist at Germany's Berenberg bank, said. "They cannot change the way they run the EU's vast internal market according to U.S. demands, which are often rooted in a faulty understanding of how the EU works."
When an Intransigent Resistance Meets an Immovable Object – EU Trade Team Accepting Baseline Tariffs
from The Conservative Treehouse: The intransigent European Union is hitting a dead end with immovable Trump on the issue of tariffs. The resulting dynamic is what we would expect given 75 years of the Marshall Plan (European Recovery Plan) as part of the EU’s only point of reference. In order for the EU to maintain […]
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