Business chaos threatens: US tariffs endanger Belgium's industry!

Business chaos threatens: US tariffs endanger Belgium's industry!

Belgien - The coming weeks will deal with a pressing question in the EU: How does European industry react to the announced US import duties of 30 %? Bart Steukers, the head of the Belgian Technology Union Agoria, warns of an "economic disaster" that could result in these tariffs for the Belgian industry. According to US President Donald Trump, these tariffs should come into force with effect from August 1st. Steukers has already asked European managers to act prudently so as not to unnecessarily tighten the conflict and explore alternative markets. "There is something," he emphasizes, while he emphasizes the need to improve the internal market, because according to the IMF, the current trade barriers in the EU correspond to an import customs of 44 % to goods and 110 % on services.

A promising approach to mitigate the potential damage could be the quick completion of trade agreements with countries such as Mercosur, Mexico and Chile, as well as the ratification of CETA with Canada. Negotiations with Australia, India, Indonesia, Thailand and Malaysia should not be pushed to the long bench. Minister Maxime Prévot speaks of a "loose-free situation", while Europeans like Antonio Costa, President of the European Council, warn that tariffs heat inflationary tendencies and slow down.

international reactions and political debates

The political landscape also reacts to the impending tariffs. After Trump's re-election in November 2024, the members of the European Parliament (MEPS) discussed intensively on the next steps in the EU relationships. Leading Meps such as Adam Szłapka emphasize the importance of fair international trade rules and illustrate that open trade both increases productivity and ensures jobs. The EU Commissioner for Trade, Maroš Šefčovič, warns of the negative effects of these tariffs on companies and consumers, as rising costs are passed on directly to the US citizens.

In a recent contribution to debate, Bernd Lange, chairman of the International Commercial Committee, emphasized that the EU could possibly react with countermeasures. Sophie Wilmès, deputy chair of the parliamentary delegation for relationships with the United States, speaks of the need for clear deterrence with regard to impending tariffs. Her appeal is clear: Europe must be ready to defend themselves and protect its key industries.

economic effects on the European market

What does that mean for the EU companies? An analysis shows that not only the direct exporters will be affected by these tariffs, but also numerous companies that deliver and promote raw materials or services to these exporters. The determined indirect effects are complex and require a detailed analysis of the European production networks. Simulations with a quantitative model show that a flat rate of 25 % could reduce EU exports to the United States by half.

In particular, key industries such as the pharmaceuticals, the transport sector and the automotive industry would be particularly affected. These sectors could have a loss between 4.1 and 9.3 %. The EU's real GDP could decrease by an average of 0.25 %, with countries like Germany to expect around 0.33 %. The EU could only try to compensate for these losses through in -depth trade relationships with partners such as Canada, Mexico and Japan. In conclusion, it can be said that the upcoming developments between the USA and the EU will be decisive for trade relationships and the economic stability of the region. The entire European Community is required to protect its economic health and to build new, promising trade relationships. We will all look forward to these practical tests!

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