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European firms are struggling to adapt to Trump's tariffs
The post European firms are struggling to adapt to Trump's tariffs appeared on BitcoinEthereumNews.com. President Trump’s new tariffs start Friday, and European firms are rushing to adapt. Some are delaying shipments, others are raising prices, and a few warn that tighter profits could threaten their survival. From small winery estates to major consumer-brand manufacturers, companies are preparing for an influx of expenses that impact alter how they do business with American partners. Under the rules coming into force this week, Washington will impose a 15 % duty on the bulk of goods arriving from Europe. These fees are part of broader penalties to resolve old disputes. Though lower than the 25% and 30% once proposed, this is still the biggest U.S. tariff on European goods in almost 100 years as per Reuters. “Companies are waking up to the fact that we’re dealing with an historically higher tariff rate,” said Andrew Wilson, a vice chief at the International Chamber of Commerce. He emphasized that without a major downturn in the American economy, it is unlikely these tariffs will be rolled back. The ICC has recorded a surge in postponed shipments and is observing corporations overhaul their distribution networks. “Trading with the United States is now hellishly more difficult,” he added, describing the new level of complexity as something “nobody could have imagined.” Out in the Moselle Valley region of Germany, winemaker Johannes Selbach noted that the tariffs add expenses to exporters and importers alike. “We were hoping for zero-for-zero tariffs, but for now we all take a 15% hit,” he said, standing amid stacks of wooden wine crates marked “USA.” Selbach cautioned that multitudes of families working in Europe’s vineyards, along with those engaged in U.S. distribution and hospitality, rely on this exchange. He warned that tighter margins could force employee cuts and shrink earnings from grape to glass. Trump’s tariff impact will differ across…
The post European firms are struggling to adapt to Trump's tariffs appeared on BitcoinEthereumNews.com.
President Trump’s new tariffs start Friday, and European firms are rushing to adapt. Some are delaying shipments, others are raising prices, and a few warn that tighter profits could threaten their survival. From small winery estates to major consumer-brand manufacturers, companies are preparing for an influx of expenses that impact alter how they do business with American partners. Under the rules coming into force this week, Washington will impose a 15 % duty on the bulk of goods arriving from Europe. These fees are part of broader penalties to resolve old disputes. Though lower than the 25% and 30% once proposed, this is still the biggest U.S. tariff on European goods in almost 100 years as per Reuters. “Companies are waking up to the fact that we’re dealing with an historically higher tariff rate,” said Andrew Wilson, a vice chief at the International Chamber of Commerce. He emphasized that without a major downturn in the American economy, it is unlikely these tariffs will be rolled back. The ICC has recorded a surge in postponed shipments and is observing corporations overhaul their distribution networks. “Trading with the United States is now hellishly more difficult,” he added, describing the new level of complexity as something “nobody could have imagined.” Out in the Moselle Valley region of Germany, winemaker Johannes Selbach noted that the tariffs add expenses to exporters and importers alike. “We were hoping for zero-for-zero tariffs, but for now we all take a 15% hit,” he said, standing amid stacks of wooden wine crates marked “USA.” Selbach cautioned that multitudes of families working in Europe’s vineyards, along with those engaged in U.S. distribution and hospitality, rely on this exchange. He warned that tighter margins could force employee cuts and shrink earnings from grape to glass. Trump’s tariff impact will differ across…
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