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Trump strikes with 30% tariff: EU industry very worried!
US President Trump announces 30% tariffs on EU imports from August 1st, with exceptions for cars and steel. Consequences for the economy?
Trump strikes with 30% tariff: EU industry very worried!
As part of the ongoing tariff dispute with the European Union, US President Donald Trump has announced that he will introduce tariffs of 30 percent on all imports from the EU from August 1st. However, certain sectors are exempt from this regulation, including the automotive and steel industries. The White House confirmed that these sectoral tariffs will be treated separately and will not be cumulative.
Currently, the tariff rate for imported EU cars and car parts is 25 percent, while the rate for steel and aluminum imports is 50 percent. Trump published an official letter to EU Commission President Ursula von der Leyen on his Truth Social platform, in which he announced the new tariffs on all products from the EU and at the same time threatened further tariff increases if countermeasures were taken. At the same time, however, he left it open that negotiations are still possible. T-online reports that...
Consequences for the German economy
The tariffs had already had a severe impact on German exports since April 2025, especially in the automotive industry. An additional tariff rate of 30 percent could put the export-dependent German economy under considerable pressure. ZDF economic expert Florian Neuhann pointed out that the USA will also suffer from the higher tariff as price pressure could increase. With this tariff, Trump will probably not be able to reduce the trade deficit with the EU.
The Federation of German Industries (BDI) describes the tariff increase as an “alarm signal” for industry on both sides of the Atlantic. A trade conflict threatens to jeopardize economic recovery and undermine trust in international cooperation. The EU faces the challenge of responding appropriately to the new tariffs without further escalating the situation. ZDF reports that...
Response and next steps
Economic actors are calling for a quick agreement with the USA to avoid uncertainty. EU Commission President Ursula von der Leyen has also announced that she will work on a solution in the next two weeks. If no agreement is reached, the EU reserves the right to take countermeasures. The EU's trade surplus in goods was an impressive 156.6 billion euros in 2023. In this context, the reaction of financial markets to the tariff announcement is considered crucial.