"Tariffs will seriously dampen the EU's economic growth," Zach Meyers, assistant director of the Centre for European Reform, told Fortune. This isn't a far-fetched outcome, given Trump slapped tariffs on steel and aluminum imports from the region during his first term as president.
With Trump planning to impose an additional 10%-20% in cross-border tariffs, trade could become expensive and possibly weaken the euro, affecting 16 million jobs across the Atlantic.
The U.S. is the European Union's largest trade partner, and over half of Europe's output stems from trade, leaving the region highly vulnerable to U.S. election outcomes.
The old continent has relied heavily on the U.S. for trade and defense guarantees, raising the stakes even higher as Europe grapples with economic and security challenges.
Collection
[
|
...
]