The trade deal between the United States and the European Union may have averted a trade war for now, but it does put significant pressure on European exporters. The agreement has far-reaching implications for sectors such as cosmetics, food and luxury goods.
Export down 25 %?
Following the deal, the United States will apply a 15 % import tariff to almost all European goods entering its territory, while they remain unscathed: Europe is not imposing any additional tariffs in return. Compared to the tariffs of up to 30 % (with which US president Trump previously threatened), this is a relief for many sectors – but the agreement also faces heavy criticism.
