November 11, 2024

Donald Trump’s U.S. election win has left Europe scrabbling to work out how it will be able to contain or counter highly probable tariffs on its exports to the U.S. once the president-elect enters the White House.

Ahead of his decisive election win last week, Trump had already threatened to revive a trade war that began during his first term in office, stating in his election campaign that he would raise tariffs on Chinese goods by 60-100%, and would impose a blanket 10% to 20% tariff on all U.S. imports.

Trump sees the protectionist move as a way to boost U.S. jobs and growth, but the policy would undoubtedly open up a new front in trade tensions with two of the country’s largest trading partners, the EU and China. Critics of the proposed tariffs say the policy could lead to higher prices for U.S. consumers.

Read more:

https://www.cnbc.com/2024/11/11/how-europe-could-try-to-get-around-future-trump-tariffs.html