EUROPEANS ARE no longer shocked by the threat of tariffs. They know President Donald Trump regards them as a fee for access to the American market, as leverage for American access to their own and as punishment for perceived slights. Since his return to office European businesses have war-gamed tariffs and adjusted their supply chains, sales contracts and distribution channels. Currently EU exports to America incur a 15% tariff; British goods are taxed at 10%. The additional 10% levy threatened by Mr Trump on the Nordic countries, Germany, France, the Netherlands and Britain for sending a tiny number of troops to Greenland, is a further nuisance (see chart). But not much more, so long as escalation is contained.
Donald Trump’s Greenland tariffs are no great blow to Europe
EUROPEANS ARE no longer shocked by the threat of tariffs. They know President Donald Trump regards them as a fee for access to the American market, as leverage for American access to their own and as punishment for perceived slights. Since his return to office European businesses have war-gamed tariffs and adjusted their supply chains,…
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