European businesses and experts are raising concerns over the United States’ ongoing tariff threats, warning that the unpredictability of U.S. trade policies is straining the global economy.
Christian Kullmann, CEO of German chemicals maker Evonik, stated in a recent interview that the U.S. government’s trade policies are causing global customers to hesitate on orders and investments. “For the global economy, these policies are disastrous,” Kullmann said. “Uncertainty and concerns over the next moves are spreading globally, undermining economic growth.”
Kullmann urged European business and political leaders to take decisive action. “Europe’s response must be ‘Business First’,” he emphasized. “We need to strengthen our economic power and global competitiveness instead of resorting to trade protectionism.”
In the United Kingdom, experts have highlighted how U.S. tariffs are impacting the job market, with unemployment rising and recruitment stagnating. Data from the Office for National Statistics showed that the country’s unemployment rate has increased to its highest level in nearly four years.
David Bailey, professor of business economics at the University of Birmingham, noted that U.S. tariffs are affecting Britain’s export-driven sectors and the job market. “Even though Britain has trade agreements, the ongoing threat of U.S. tariffs continues to influence the economy in the long term,” Bailey said.
In Portugal, winemakers are facing hardships as U.S. tariffs and export uncertainties weigh on the industry. João Matos, a board member of the Favaios Cooperative Winery—one of Portugal’s most renowned producers of sweet fortified wines—expressed concern over the situation. “Everything has been put on hold,” he said.
“The U.S. is one of our most important and fastest-growing markets,” Matos explained. “Higher tariffs have led to immediate order suspensions and cancellations. These bottles are stuck here with nowhere to go.”
European business leaders and experts are calling for a strategic response to address the challenges posed by U.S. tariff policies, emphasizing the need for unity and proactive measures to safeguard the global economy.
