The announcement from US President Donald Trump about a possible 50 percent tariff on goods from the EU is causing stock markets to plunge.
This applies both abroad and at home, where the C25 index falls 1.6 percent, after having been in the red before Trump's announcement. This is reported by MarketWire.
Trump writes on his social media, Truth Social, that the trade negotiations between the US and the EU are going nowhere. He thus recommends a 50 percent tariff from June 1 for goods from the EU.
The Danish Confederation of Industry has calculated that Trump's 20 percent tariff on EU goods would cost over 60 billion kroner on Denmark's GDP growth.
- So there is no doubt that a 50 percent tariff will put both Denmark and the US into recession, says Peter Thagesen, head of geopolitics at the Danish Confederation of Industry.
He is also incomprehensible to the president's tariff announcement.
- From the EU, we have really tried to show great hospitality towards the US.
- Even though we have been met with punitive tariffs on cars, car parts, steel and aluminum products, we have not yet responded.
- We have tried to reach out and encourage negotiations. But the thing is, it has been difficult to find out what the US actually wants, says Peter Thagesen in a comment.
The US president's course on tariffs has been marked by a veritable barrage of different statements in recent months.
In April, Trump announced tariffs of ten percent on all imports to the US and much higher tariffs for a number of countries and regions, including 20 percent tariffs for most EU goods.
However, the much higher tariffs were temporarily suspended so that the US could negotiate agreements with individual countries.
In Dansk Erhverv, deputy director Jakob Ellemann-Jensen calls for "cold water to be poured into the blood".
- It is a bold statement, but we must also remember that it is made via the social media TruthSocial and may very well be a negotiating tactic on the part of the Trump administration, which is intended to put further pressure on the EU in the ongoing tariff negotiations, he says in a comment.
/ritzau/
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