European Industry Warns Trump's Tariff Threat Will Have Devastating Consequences
A fresh round of tariffs on European exports has sent shockwaves through the continent's industries, with leaders and business owners alike warning that President Donald Trump's "ludicrous demands" will have disastrous consequences. The German auto industry association has called for a "smart" response from Brussels, urging the EU to stand firm against Trump's threats.
The tariffs, which could be imposed as early as February, would hit vital industries such as engineering and manufacturing, with some estimates suggesting that they would cost Germany alone billions of euros in lost revenue. The German Chamber of Commerce and Industry (DIHK) has described the situation as "unacceptable," with its executive board member Volker Treier labeling Trump's tactics "highly controversial."
Industry leaders are scrambling to find ways to mitigate the impact of the tariffs, but many believe that it will be a long and difficult battle. A senior figure in the UK automotive industry said that the short deadline for exporting goods before the levies takes effect meant that there was limited time to rush cars into the US, while another executive at a large carmaker warned that the tariffs would add significant costs to their operations.
The impact of the tariffs is not just felt by German and European industries, but also in the UK. The Trades Union Congress has warned that Trump's tariffs "threaten to take a wrecking ball to key British manufacturing sectors and jobs," emphasizing the need for the British government to prioritize a closer trading relationship with the EU.
As tensions continue to rise, manufacturers are being forced to re-evaluate their strategies and consider new ways of navigating the complex and unpredictable global trade landscape. With the prospect of another 10% tariff looming large on top of the existing 25%, it remains to be seen whether business leaders will be able to find a way out of this crisis before it's too late.
Industry experts point to the example of Brexit, where businesses had to scramble to adjust to new trade rules and regulations. Similarly, companies are now facing the challenge of dealing with the US tariffs, which could lead to significant costs and disruption in the supply chain. The question on everyone's mind is whether this latest crisis can be averted before it spirals out of control.
With the EU set to meet for an emergency summit on Thursday to discuss potential counter-tariffs, business leaders are bracing themselves for a tough road ahead. As one senior steel executive put it, "It was too late to try to rush products over the Atlantic before 1 February, with lead times and shipping times measured in weeks." The prospect of another trade war is looming large, and it remains to be seen how industry leaders will respond to Trump's latest threats.
A fresh round of tariffs on European exports has sent shockwaves through the continent's industries, with leaders and business owners alike warning that President Donald Trump's "ludicrous demands" will have disastrous consequences. The German auto industry association has called for a "smart" response from Brussels, urging the EU to stand firm against Trump's threats.
The tariffs, which could be imposed as early as February, would hit vital industries such as engineering and manufacturing, with some estimates suggesting that they would cost Germany alone billions of euros in lost revenue. The German Chamber of Commerce and Industry (DIHK) has described the situation as "unacceptable," with its executive board member Volker Treier labeling Trump's tactics "highly controversial."
Industry leaders are scrambling to find ways to mitigate the impact of the tariffs, but many believe that it will be a long and difficult battle. A senior figure in the UK automotive industry said that the short deadline for exporting goods before the levies takes effect meant that there was limited time to rush cars into the US, while another executive at a large carmaker warned that the tariffs would add significant costs to their operations.
The impact of the tariffs is not just felt by German and European industries, but also in the UK. The Trades Union Congress has warned that Trump's tariffs "threaten to take a wrecking ball to key British manufacturing sectors and jobs," emphasizing the need for the British government to prioritize a closer trading relationship with the EU.
As tensions continue to rise, manufacturers are being forced to re-evaluate their strategies and consider new ways of navigating the complex and unpredictable global trade landscape. With the prospect of another 10% tariff looming large on top of the existing 25%, it remains to be seen whether business leaders will be able to find a way out of this crisis before it's too late.
Industry experts point to the example of Brexit, where businesses had to scramble to adjust to new trade rules and regulations. Similarly, companies are now facing the challenge of dealing with the US tariffs, which could lead to significant costs and disruption in the supply chain. The question on everyone's mind is whether this latest crisis can be averted before it spirals out of control.
With the EU set to meet for an emergency summit on Thursday to discuss potential counter-tariffs, business leaders are bracing themselves for a tough road ahead. As one senior steel executive put it, "It was too late to try to rush products over the Atlantic before 1 February, with lead times and shipping times measured in weeks." The prospect of another trade war is looming large, and it remains to be seen how industry leaders will respond to Trump's latest threats.
. Trump thinks imposing tariffs on EU exports is gonna be some kinda "victory" for American industry? Please, that just shows he has no idea how global trade works 
. The real losers here are the everyday consumers and workers who'll end up shouldering the costs of these arbitrary tariffs. 
. He thinks being "tough" on Europe will make him look strong? Newsflash, Donald: it just makes you look weak 
. The EU needs to stand firm and show Trump that they won't be intimidated by his bullying tactics 
.
It's like Britain forgot its own trade deals with Europe since Brexit happened 
. We need to get back on track and prioritize a close trade relationship with our EU partners, not get caught up in Trump's trade wars 
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I just saw this thread and it's like, what's going on here?! 
All these European industries are getting hit with tariffs from the US, and they're all scrambling to find ways to mitigate the damage. It's crazy how this is affecting not just Germany but also the UK 
, which already has its own trade issues with Brexit 
. I don't think Trump realizes that his "ludicrous demands" are going to have devastating consequences for everyone involved. Like, what's next? A global trade war? 
It's all so stressful and unpredictable. Can someone just calm down and negotiate a peaceful solution already?! 
this is getting so stressful for everyone involved... think about all these businesses and workers who are already struggling due to the trade tensions and now these new tariffs could be the final blow 
what if they can't find a way out of this crisis? 
what's next, tariffs on everything except us? it's just a matter of time before china joins the party 
and europe has had enough, time for them to stand up for themselves 
manufacturers need to think outside the box and find new markets, can't just sit back and wait for trump's next tantrum 
. He's gonna push Europe around with his tariffs and then wonder why everyone freaks out? It's not just Germany or the EU that's gonna get hit, it's the whole world. The UK's already got enough problems with Brexit, now they gotta deal with this too? 
we need to keep calm and think of the silver lining 
like maybe this will speed up the development of new green technologies in europe 
or maybe it'll force us to re-evaluate our trade relationships and find more sustainable solutions 
. We need EU leadership to prioritize trade relationships over politics, you feel? 
I heard from a source close to a German car manufacturer that Trump's team has been pushing for an "emergency meeting" at the US side to try to get them to back down on their tariff demands... but it seems like they're digging in their heels 
and now germany and europe are like "hold on we can't just sit back and take this" 
but at the same time, i get why they're worried, it's not going to be easy for them 
what do you guys think will happen next? 
. I mean, can you imagine having to adjust your entire business model just because of some trade tensions? It's crazy! 
Trump's threats are definitely taking a toll on people's confidence in global trade agreements 
. We need more cooperation, not chaos! 
. The EU's got some big guns to play with – like a counter-tariff. Let's hope they can negotiate something that doesn't suck up all the money from European manufacturers 
.
The whole thing with the tariffs is so crazy. Like, who does Trump think he is, trying to hold Europe hostage over trade? 
. I swear, sometimes I think politics are more about hurting people than actually helping anyone... Ugh, my kids are going to have to deal with this mess for years to come 
.
the tariffs are going to have such a big impact on germany and other european countries like france and the uk 