Donald Trump has announced a plan that threatens to open a new front of tension between the US and Europe. Promised to introduce in case of re-election. 10% duties On all imports. A decision intended to directly affect European partners, with the aim of “rebalancing the US trade deficit”. The announcement, made during a rally in Pennsylvania, raised alarm bells among European diplomats.Economic impact A potential trade war. Trump ponders. Protectionism It is an essential means of bringing production back to the US, but Europe may react with retaliatory measures to defend its economy.
Towards a trade war: Tariff announcement
In Raleigh, Pennsylvania Donald Trump announced a move that could mark a new chapter in tensions in global economic relations: imposition 10% duties on all imports into the United States (such as cars from Mexico, on which he has promised a 500% tariff), including European products, if he is elected president. Trump has said he wants to implement the measure through the “Trump Reciprocal Trade Act,” an initiative aimed at rebalancing trade between the United States and countries considered “too reciprocal” such as the European Union. is
The Republican candidate expressed his anger against the EU without mincing words, it is alleged. Block access to products It markets agricultural and American cars, while exporting millions of cars to the United States. This trade has been the focus of the “insufficient reciprocity” attack, which is supported by the idea that tariffs could force trading partners to increase their purchases of American goods, thereby reducing the U.S. trade deficit and domestically. Production may increase.
The former president already tried similar approaches during his first term, negotiating with the European Commission and implementing tariffs affecting various economic sectors. He promises an even tougher line if re-elected.
What will be the consequences for the European Union?
The event of 10% duties European products represent a threat that cannot be underestimated for the economy of the European Union, which sees itself in the United States. Largest trading partnerwith more than annual turnover One thousand billion euros in goods and services. The EU-US trade balance is historically favorable for Europe, with a surplus of around €156 billion in 2023. The protectionism threatened by Trump could therefore affect key sectors such as industrial machinery and chemical products, which represent 68% of European exports. with serious consequences for the United States or aluminum, especially for Italy.
According to estimates, A 10% duty Taxes are imposed on all products imported from the United States. Eurozone GDP will shrink by 1% And it will have a negative impact on economies more dependent on exports, such as Germany, whose growth could fall to 1.6 percent. Analysts fear that Trade war An announcement by Trump could lead to an economic recession, as a result Job cuts Among European companies exporting to America.
The European Union (which has confirmed tariffs against China) is already considering a swift response, and diplomatic officials are ready. Negotiate exemptions. or responding with retaliatory measures against US products. Brussels’ priority is to avoid a catastrophic trade war, with the aim of negotiating to minimize the impact on national economies and cut the millions of jobs supported by transatlantic trade. In a non-arbitration scenario, the EU would find itself forced to protect its economic and strategic interests by erecting similar tariff barriers, which have already increased the risk of global economic instability. Unstable.
