Doris Hummer warns: Trump's tariffs endanger our economy!
Doris Hummer warns: Trump's tariffs endanger our economy!
USA - On August 10, 2025, WKOÖ President Doris Hummer addressed the current economic challenges for entrepreneurs in Austria. In a pronunciation, she pointed out the high costs caused by the punitive tariffs raised by the US government under Donald Trump. This “penalty tax”, especially on steel, aluminum as well as cars and auto parts, leads to a confusing situation for many companies that are confronted with uncertainties regarding future trade relationships. Increasing bureaucracy and lack of clarity about measures that have not yet been decided increase the uncertainty in business - not only in Austria, but also in the USA itself.
lobster expressed that Trump's politics is more harmful than beneficial, and called for a clear perspective for the entrepreneurs. This situation is particularly worrying, since the tariffs, which until June 24 of this year already brought $ 95.6 billion in the US state budget, rose by 135% compared to the previous year. Despite the high income that is generated, for example, by 50% tariffs on steel and aluminum, the customs revenues remain relatively low compared to income tax, which was $ 2.4 trillion in the 2024 budget. It was also found that the tariffs are to be paid by US importers, not from the exporting countries.
consequences of tariffs for the European industry
The customs situation also has a significant impact on European industry. Experts warn that the calm before a price increase is only temporary because companies have stocked their warehouses. An increase in tariffs could reduce their imports and thus also reduce customs income to the US state. The fears of jobs in European steel producers are to be taken seriously, since the pressure from the opposing tariffs remains.
A YouGov survey shows that 53% of German US products want to avoid, but reality shows that pricing ultimately determines buying behavior. Trump's claims that the tariffs could partially replace income tax are rapidly classified as unrealistic.
political reactions in Europe
After Donald Trump's re -election in November 2024, there were discussions in the European Parliament on future transatlantic relations. Leading EU MPs emphasized the need to continue working with the USA and discussed customs threats on February 12, 2025. Adam Szłapka, the Polish Minister of European Affairs, underlined the advantages of a rule-based trade, while Maroš Šefčovič from the European Commission described the US tariffs as harmful to the companies. Bernd Lange, Chairman of the Committee on International Trade, pointed out the possibility of counter -tariffs to protect European interests, while Sophie Wilmès emphasized the importance of deterrent by tariffs.
In this complex trade environment, clear political strategies and closer transatlantic cooperation are required in order to successfully master the economic challenges caused by Trump's tariffs. In view of the current situation, it remains to be seen how the development will affect companies in both Europe and the United States. For more information you can report the reports of krone , ZDF and DetailsOrt USA Quellen
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