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US tariffs on European goods threaten to shake up the world’s largest 2-way trade relationship
- 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.
144 Articles
144 Articles
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."
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Money and Me: Tariffs, TACO Trades, and the $2 Trillion Question - Your Money with Michelle Martin (9am
Is it wise to bet on a president backing down? Markets seem to think so. Hosted by Michelle Martin with Simon Ree, Founder of Tao of Trading, we unpack the viral TACO trade, why July 8 looms large for investors, and what the “revenge tax” in Section 899 might mean for global capital. We examine how policy posturing is morphing into fiscal weaponry. Could U.S. tariffs on the EU trigger ripple effects in the dollar and stock markets? And what’s re…
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