Trump's 'Liberation Day' threatens to disrupt global trade

Uncertain consequences

Schippers points out that previous countermeasures by the EU in 2018 still gave companies some room, but that the current situation entails a major financial risk.

The United States is mainly focusing on the so-called 'Dirty 15', countries that Trump believes trade unfairly with the US. This list includes the EU, China, Canada, Mexico and South Korea. If no agreement is reached, new, reciprocal duties will follow, with which the US wants to compensate for trade barriers from other countries. 

Impact on companies

Martijn Schippers emphasises that companies are uncertain about the consequences of the new tariffs. ‘What if imported American goods arrive on April 14? Do you have to pay then? This could cost companies millions.’ Many companies are therefore postponing their import plans until further clarity.

In addition, the European CO₂ border levy (CBAM) may play a role in the trade conflicts. The US sees this measure as an additional tax on its products. Schippers warns that this could become a new point of contention in the already heated trade relationship between the EU and the US.

The global response

The EU is preparing countermeasures, including levies on American products such as dairy, electronics and alcoholic beverages. In addition, Trump has labeled non-tariff barriers, such as European food standards, as trade barriers.

According to Schippers and other experts, the situation remains unpredictable. Trade could already take a hit before real decisions have been made. International markets are anxiously awaiting the course the US will take and whether a trade agreement is still possible.