WP predicts damage to EU economies if Trump imposes trade duties

The trade duties that US President-elect Donald Trump is going to introduce may cause serious damage to the European Union (EU) countries. The Washington Post (WP) wrote about this on November 20.

"The prospect of a trade war unleashed by the Trump administration looms over European capitals. The EU, which considers the US its largest export market and one of its closest strategic allies, could be among the hardest hit if President-elect Donald Trump goes ahead with his tariff plans," the material reads.

It is specified that large European economies at the current moment are already lagging behind the United States as a result of the pandemic. According to economists, "protectionist measures of Trump" may entail further recession in Europe and complicate relations between allies.

According to experts' estimates, the imposition of duties could lead to a "full-scale repression". It is noted that in the greatest danger is Germany, which is the "leading exporter to the United States" among the EU states.

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Earlier, November 10, French Foreign Minister Jean-Noel Barrot said that after Trump's victory in the US elections in Europe there is a risk of disunity and turning it into an American vassal. The MP said that European countries should not allow this.

Before that, on November 6, it became known that the EU fears that after the election of Trump may start a new trade war between the countries of the association and Washington. It was specified that in 2018, as President of the United States, Trump, for reasons of national security, introduced a duty on steel at a rate of 7% and a tariff on imports of aluminum with a rate of 10%.

The election for the 47th president of the United States was held on November 5. According to the latest figures released by ABC, Trump won 295 electoral votes with a threshold of 270, while Harris received 226 votes. The results were met with prolonged applause at Trump's campaign headquarters. The politician himself has already called himself the 47th president.