Trump announces 25% tariffs on EU cars, triggering firm EU retaliation. What does this mean for global trade? A customs perspective.
The trade tensions between the US and the European Union have escalated once again, with President Donald Trump announcing a 25% tariff on European cars and "all the things."
The European Commission has vowed to respond "firmly and immediately."
But what does this mean for global trade, businesses, and consumers?
As customs professionals, we must consider several key questions:
What are the implications of these tariffs for transatlantic trade?
How will businesses adapt to the sudden changes in costs and supply chains?
What are the possible retaliatory measures the EU might take?
What strategic actions should businesses take to mitigate risks?
Let's break it down.