European industry hits out at Trump’s ‘ludicrous’ demands over Greenland
EU should issue ‘smart’ response to US president’s threat of tariffs against several countries, say business leaders
TL;DR
- European industry leaders have reacted negatively to Donald Trump's tariff threats.
- The president of the German auto industry association called the demands "ludicrous" and warned of enormous costs for European industry.
- A coordinated response from Brussels is deemed crucial by industry leaders.
- Trump's threat includes additional tariffs of 10% in February and 25% in June.
- European leaders are expected to meet for an emergency summit to discuss counter-tariffs.
- The German engineering association urged the EU to "face Trump down" to prevent further demands.
- The German Chamber of Commerce and Industry criticized linking political goals to economic sanctions.
- Manufacturers are considering how to respond to the potential tariffs, including rushing products before they take effect.
- UK automotive industry figures noted limited time to export before the levies.
- A Welsh whisky maker expressed concern about absorbing additional costs and losing market presence.
- The Trades Union Congress warned that tariffs threaten British manufacturing sectors and jobs.
- The UK steel industry anticipates instability and the need to renegotiate costs with US importers.
- Rushing products to the US before the deadline is considered impractical due to shipping times.