From the “Wahington Post”
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If the American president proceeds with his plans for a tax on imports, the European Union, the United States' largest export market and a major strategic ally, could be one of the hardest hit regions.
The main European economies are already struggling to catch up with the United States in their post-pandemic recovery. Experts warn that the protectionist policies put in place by Donald Trump could lead to a further contraction of activity in the Old Continent, while undermining international alliances. Here are the key points to remember.
Trump threatens historic rise
During his previous term, Donald Trump imposed heavy taxes on steel and aluminum. This time, he threatens to go much further. He announced that he wanted to introduce customs duties of 60% on all Chinese products and 10 to 20% on imports from other countries, including the European Union.
Trump has expressed frustration over trade imbalances, particularly in the auto and agriculture sectors. The European Union applies a customs tariff of 10% on cars (compared to only 2.5% for the United States) and agricultural taxes of around 11% (more than double the American rate).
“I tell you, the European Union seems so nice, doesn't it? All these small European countries coming togetherTrump said at a rally in Pennsylvania in October. They don't take our notice
