European markets are on edge. Warnings are echoing across the continent about the potentially devastating impact of US tariffs under President-elect Donald Trump. Many leading publications have joined the chorus of concern. According to the Washington Post, the tariffs proposed by Trump could deal a serious blow to the European Union's economy.
These tariffs, if implemented, could severely harm EU countries and strain relations with Washington, experts warn. By imposing tariffs, Trump's administration is fueling a trade war that threatens Europe, according to the Washington Post.
The United States is currently the European Union's largest export market and one of its closest strategic allies. However, the EU market could be among those hardest hit if Trump follows through on tariffs.
The protectionist measures pushed by Trump are likely to dampen Europe's economic growth, complicating the alliance with the United States, the Washington Post suggests.
Earlier, Paschal Donohoe, Ireland's Minister for Public Expenditure and Reform, advocated for a stronger, more autonomous European economy, suggesting that it needs to become more resilient to challenges.
