"We fear there's not a lot of good news. If Trump puts in place tariffs of up to 10 percent, we'll deal, but if it goes to 25 percent or beyond we see export flows fall back dramatically or cease entirely," said Jacques Vandermeiren, highlighting the concerns among European manufacturers regarding looming tariffs under Trump’s presidency.
Swiss-American economist Richard Baldwin warns that Europe is unlikely to get a pass this time, stating, "Trump Season Two will involve tariffs that are a lot higher, on a much broader range of goods, and from a lot more countries," emphasizing the potential severity of future trade impacts.
Baldwin also raised concerns about the indirect effects of tariffs, suggesting that Europe could suffer from China’s "whack-a-mole trading," where goods that can't be exported to the U.S. flood the European market instead.
Jacques Vandermeiren noted that European export-oriented industries, like food and beverage, could face significant challenges, saying, "If it happens again, it will be a big blow to that industry, which is already suffering," underlining the concerns about tariff repercussions.
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