US EditionUS tariffs on European goods threaten to shake up the world’s largest 2-way trade relationship
- President Donald Trump imposed a 20% import tariff on European goods in early April but paused the rate at 10% until July 9 to allow negotiations.
- This tariff decision follows ongoing trade tensions with the EU, which holds a 198 billion-euro surplus in goods and has warned of retaliatory tariffs.
- Retailers and consumers are reacting with higher prices and altered buying habits, including increased interest in domestic products and delayed or accelerated purchases.
- For example, a $1,000 dress could rise to $2,680 due to added costs and tariffs, and 66% of shoppers say they will seek U.S. options if overseas prices increase.
- These tariffs risk reducing EU GDP by 0.3% and U.S. GDP by 0.7%, while companies like LVMH consider moving production to the U.S. to avoid tariffs if high rates persist.
79 Articles
79 Articles
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US tariffs on European goods threaten to shake up the world’s largest trade relationship - National
The EU awaits Trump’s tariff decision, which could raise duties on European goods to 50per cent, risking a trade war that may hurt U.S. consumers and global companies alike.
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The intransigent European Union are 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 their socialistic form of […]
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