The American president Donald Trump is considering imposing new tariffs of 25% on products imported from Canada, as well as an increase of 10% to 60% on certain Chinese products.
These measures are expected to be implemented to protect American national production, reduce the trade deficit, and thus safeguard the U.S. economy.
The U.S. also indicates that these measures would help protect the country against illegal immigration and drug trafficking.
Donald Trump, threatening to extend tariffs to the European Union, has sparked serious concerns about their potential repercussions on the global economy.
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The Stakes for Europe
The Risk of a Trade War
European leaders fear that Trump’s threats to extend tariffs to the European Union could disrupt transatlantic trade.
Such a scenario would harm European exports, but also Americans, who would very likely end up indirectly paying these tariffs.
China could take advantage of a trade war between the U.S. and Europe by positioning itself as a leader in free trade and attracting European partners seeking to bypass the new American tariff barriers.
Potential Economic Disruptions
An increase in import costs due to Trump’s tariff policies could lead to rising inflation, supply chain issues, and disruptions in international trade.
Some export-oriented industries could thus be permanently weakened.
The Impact on the Automotive Industry
A particularly vulnerable sector is the European automotive industry, especially in Germany and France.
Increased tariffs on European car exports would reduce their competitiveness in the U.S. market, likely resulting in a drop in sales.
Europe’s Response
The tariffs proposed by the American president pose significant challenges for Europe, threatening to disrupt transatlantic trade relations and impact various economic sectors.
In response to Trump’s actions, the European Union could retaliate by imposing its own tariffs on American products while strengthening trade agreements with other partners such as China or Mercosur (Argentina, Brazil, Paraguay, Uruguay, and Bolivia).
At the same time, economic experts advise European countries to enhance their competitiveness, reduce public deficits, and consider a coordinated international response to mitigate the impacts of Donald Trump’s measures.
Deregulation could also be introduced to adapt to the current political changes.
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