Trump’s trade war puts 97% of EU exports at risk – Politico
Photo: US President Donald Trump (GettyImages)
Tariffs imposed by US President Donald Trump will affect approximately 97% of the European Union’s total exports to the US, Politico informs.
The head of the EU’s trade representation, Maroš Šefčovič, believes that US President Donald Trump’s tariffs on pharmaceutical products, raw materials, and semiconductors, combined with the broad tariffs already imposed on the European Union, will hit EU exports to the US worth a total of €549 billion.
According to estimates by the European Commission, the tariffs would affect 97% of the EU’s total exports to the US.
"If all these investigations lead to unjustified, harmful tariffs, then another €170 billion of EU exports to the US would be impacted. This means that, in total, around €549 billion of EU exports to the US, i.e., 97 percent of the total, would be subject to tariffs," Šefčovič stated.
These remarks came after the European Union calculated that Trump’s tariffs, which include a 20% "reciprocal" tariff on the EU and a 25% tariff on cars, auto parts, steel, and aluminum, would impact about €380 billion worth of EU goods, or roughly 70% of the bloc’s exports to the United States.
Reciprocal tariffs
On April 9, the EU approved tariffs on US goods worth around €21 billion. This was in response to Trump’s 25% tariffs on steel and aluminum imports from the EU.
At the same time, Trump revoked the so-called reciprocal tariffs on the EU set at 20%. The rate will now be 10%. Following this, the EU suspended for 90 days the 25% tariffs it had approved in response to US duties on steel and cars.
