- 79% of Danes and 56% of Italians support retaliatory tariffs against the US.
- 68% of Germans and French respondents favor tit-for-tat measures.
- Trump’s tariffs could hit European carmakers and luxury goods hard.
- EU pledges a “timely, robust, and calibrated” response to US tariffs.
- Global markets react nervously as trade war fears grow.
European Public Backs Retaliation Amid US Tariff Threats
A recent YouGov poll conducted across seven European countries reveals that a significant majority of respondents support retaliatory tariffs against the United States if President Donald Trump proceeds with sweeping import duties. The survey, carried out in Denmark, France, Germany, Italy, Spain, Sweden, and the UK, found that support for such measures ranges from 79% in Denmark to 56% in Italy.
Impact on Key Industries
European industries, particularly Germany’s automotive sector and France’s luxury goods and wine producers, are expected to bear the brunt of Trump’s tariffs. German carmakers like Porsche, BMW, and Mercedes, which rely heavily on US exports, could face significant profit losses. Similarly, French wine and spirit exports to the US, valued at nearly €4 billion annually, are at risk. Despite these potential economic setbacks, 68% of respondents in both Germany and France favor retaliatory measures.
EU’s Strategic Response
The European Union has pledged a “timely, robust, and calibrated” response to the US tariffs. EU Trade Commissioner Maroš Šefčovič emphasized the need to minimize negative economic impacts while ensuring a firm stance against what Brussels views as unfair trade practices. The EU has delayed its retaliatory measures until mid-April to better assess the full impact of Trump’s tariffs and explore potential negotiations.
Global Market Reactions
Global markets have reacted nervously to the escalating trade tensions. Key European and Asian indexes closed lower following Trump’s announcement of potential tariffs, while the Dow and S&P 500 saw marginal gains. Analysts warn that the tariffs could depress global output, drive up prices, and fuel a broader trade war. Goldman Sachs has raised its 12-month recession probability for the US from 20% to 35%, citing falling confidence and economic uncertainty.
Trump’s Justification and Criticism
President Trump has defended the tariffs as necessary to address what he calls “reciprocal unfairness” in global trade. He has accused the EU of being “very unfair to us” and claimed that the bloc was “formed to screw the United States.” However, the YouGov poll found that majorities in all six EU countries surveyed disagreed with Trump’s assessment, with only 7% to 18% of respondents supporting his views.
Looking Ahead
As the US prepares to unveil its tariffs, the EU remains committed to protecting its economic interests while seeking a balanced resolution. European Commission President Ursula von der Leyen reiterated the bloc’s opposition to tariffs, describing them as “bad for consumers and businesses on both sides of the Atlantic.” The coming weeks will be critical in determining whether the two sides can avoid a full-blown trade war.