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What are the risks of the tariff conflict between the US and Europe? Business associations predict that $9.5 trillion in Business could be affected.
① The AmCham EU, the American Chamber of Commerce to the European Union, warned that the US-EU tariff conflict threatens the transatlantic commercial trade valued at $9.5 trillion annually; ② In an annual report, the chamber stated that trade in goods and services between the EU and the USA is expected to reach a record $2 trillion in 2024; ③ Last week, a major escalation of the US-EU tariff conflict occurred, and the conflict may extend to areas such as trade in services, data flows, and Energy.
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