Customs against the EU: is there a new trade war with the USA?

Customs against the EU: is there a new trade war with the USA?

The impending trade tariffs in the United States could hit the European economy sensitively. According to Gabriel Felbermayr, head of the WIFO, the EU will be three times more affected by a potential trade war than the United States itself. These tariffs, which could be imposed in the coming time, are particularly alarming because Austrian exports to the United States have experienced an upswing in recent years. Felbermayr emphasizes that in the current economic situation, the USA was a ray of hope, the loss of which would have serious consequences. If the tariffs from Canada, Mexico and subsequently the EU occur, the WIFO expects a decline in the US economy by 0.45 percent, which would burden production and consumer prices through increased import costs.

episodes for the auto industry

The possible tariffs also have far -reaching consequences for the automotive industry. As industry expert Stefan Hecht from Advyce & Company reports, an increase in tariffs to Mexican automobiles could significantly impair the economic feasibility of their imports. Auto manufacturers, including Volkswagen, BMW and Mercedes, could shift production facilities from Mexico to the USA, which endangers the planned investments. A project in Ontario, where Volkswagen is planning a battery cell factory, could also move into the background through the tariffs, since tariffs were "poison" for the project, as Stefan Bratzel from the Center of Automotive Management warned. Donald Trump himself announced that the tariffs could also affect European products, with up to 20 percent surcharge.

These trade strategies, which Trump uses as a means of pressure, aim to force other countries to do more against drug smuggling and illegal immigration. However, this path could trigger a dangerous trade war, warn economic experts. The EU also has counter -duties in the hindquarters to defend its own economic interests. It remains to be seen whether Trump is willing to find a compromise while the international economy is looking forward to a tense situation, emphasized experts that trade barriers could not only harm the affected countries but also the USA itself.

For detailed information, the analyzes from the WIFO and expert statements at oe24.at href = "https://www1.wdr.de/nachrichten/usa-trump-zoelle-kanada-kanada-mexiko-china-feuthing-deutschland-100.html"> WDR.de included.