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US President Donald Trump stands, after notes on definitions, in the Roses Garden in the White House in Washington, the United States, April 2, 2025.
Lea Milis Reuters
Global markets, companies and long-term geopolitical relations were thrown in chaos on Thursday, a day after US President Donald Trump announced the policy of customs tariffs-and Europe spared no chaos.
The European Union was directed by 20 %, while the United Kingdom was exposed by 10 % less, and has benefited from its most balanced commercial relationship in the United States. All eyes will now be in the extent to which politicians will go in their response, and the deep escalation of the conflict.
Most analysts agree as an economic perspective, there are a few winners – or perhaps not – of the expected slowdown in growth and breaking trade relations.
However, some luminous points appeared among European origins on Thursday – as well as some deep negative.
Luxurious goods
The luxury Stoxx 10 in Europe closed 5.2 % on Thursday, which is its worst session in nearly four years, with barbaricand LVMH And the owner of Gucci Kering All suffering.
Luxury products are located directly in the shooting line from the mutual definitions of Trump, as they are often manufactured in Europe and export.
On Thursday note, analysts in City said that the German shoe maker BirkestockThe brand for Italian fashion BRUNELLO CUCINLLI Danish jewelry Pandora was among the names of the sectors with the largest revenue exposure to America, as the United States represents 31 % to 47 % of corporate sales.
Luxurious LVMHKing Gucci Kering And Cartier Parent Richmont City also indicated that all of them generate at least 20 % of sales in the United States.
Food and drink manufacturers
European Union He describes the United States As a major destination for food and beverage products, such as wine, beer, lives, chocolate, cheese and olive oil.
“Our sectors are very integrated throughout the Atlantic Ocean and supports our common life trade many jobs on both sides, through manufacturing, distribution, agriculture, retail and hospitality,” said Trade Body Shipits said in a statement on Thursday. “We want to make sure to return to an environment that supports the continuous growth of all producers of the European Union and the United States.”
French wine sales and lives to the United States are expected to decrease by at least 20 % in the United States as a result of new definitions.
Budweiser Beer in the Brewery Security at Walmart Supercenter on March 02, 2023 in Austin, Texas.
Brandon Bell Gety pictures
Germany
It was Germany The largest source of goods in the European Union To the United States last year. The European country is home to some of the largest car makers in the region, including BMW, Volkswagen, Mercedes-Benz and Porsche All of this is now under 25 % import commodities.
“There is no doubt that the announcement of a tariff last night … is bad news for the German economy.”
“The negative surprise is not a direct tariff,” he said, noting that the markets were expecting a 20 % mutual tariff.
“However, the 50 % US higher graphics or more on Asian imports are a real surprise and mean a more severe trade shock than most of the observers expected,” Winkler said. “Indirectly, this is a negative shock to Germany as well.”
The Federal Association of Germany for Wholesale and Foreign Trade (BGA) criticized the mutual definitions of Trump as a “front attack on world trade” in a statement on Thursday.
“With the high tariffs of more than 100 commercial partners, the US president drowns the world in an open trade war with Britain’s exit from the European European Union,” Dirk Yandora, President of BGA said in a statement sent via e -mail. “I assume that the conflict will significantly affect our economic growth. The more it takes, the more painful for all, including the United States of America.”
retail
A group of retailers, clothes selling, shoes, home commodities, electronics and beyond, have global supply chains based in Asia. South and Southeast Asian countries including Cambodia, Vietnam, Indonesia, Bangladesh and Sri Lanka are full of factories that produce clothes and products for companies such as H & M and and Adidas – It is controversially struck with some of the highest rates between the recently announced US mutual tariffs, which are more than 40 %.
For many exporters [new tariffs are] The difference between profit and loss. Companies need a long closer look on whether they can continue to serve American customers profitable – and if they cannot focus on focusing on new, more friendly new markets, and perhaps when commercial deals are already present, and if necessary, diversify manufacturing in other products, “said the VAT manager and customs duties at Consultance Crowe.
Worth added: “The step to direct the tariff fees at the time of export – unlike the arrival of the United States – has the ability to cause a number of issues.”
shipping
Logistics and shipping companies associated with the health of the global economy will feel influenced amid widespread expectations of withdrawal on economic growth and trade.
Danish shipping giant Mercke said on Thursday that the customs tariff plan announced by the White House will lead to greater caution among its customers in a more fragile economic environment.
The Gunde Maersk container in Oakland Port on June 24, 2024 in Auckland, California.
Justin Sullivan Gety pictures
“In its current form, [tariffs] It is clear that the company is not good news for the global economy, stability and trade. “
European shipping and logistical services shares were widely lower on Thursday, as Merck fell by 9.5 %, HaPag-LLOYD 9 %, and DSV scrap 5.2 %.
Banks
The banks were one of the worst performance sectors in Europe on Thursday, as the Stoxx Regional Index fell 5.53 %-which represents the most sales operations in two years.
This sector is also sensitive to slowdown in global growth, potential recession concerns, or a widespread trade war.
British bank Carted StandardIt has a high exposure to Asia, fell 13.3 %. Global tyrant HSBC 8.9 % decreased.
Cars
The Trump tariff entered 25 % on foreign car imports into effect on Thursday, prompting many of the world’s largest car companies to expand the last losses.
Germany VolkswagenMercedes -Benz collection and BMW It was circulated about 4 % less on Thursday afternoon, while listed in Milan Stelantis – Who has home names including Jeep, Dodge, FIAT, Chryler and Peugeot – decreased by 8 %.
The escalating global trade war is expected to have a profound impact on the auto industry, especially given the high globalization of supply chains and strong dependence on manufacturing operations throughout North America, especially Mexico.
Regional currencies
European currencies were one of the few classes in the region that gathered on Thursday. the euro and British pound He touched to the highest level for six months, while Swiss franc It has risen to the highest level against Greenback since mid -October.
Before announcing the alleged liberation day tariff for Trump, market monitors told CNBC that the euro and Steling might see up, with import duties in the new United States.
On Thursday morning, Jordan Rothscter, head of Ficc Strategy at Mizuho Emea, said he saw the euro jumping up to $ 1.12 in the short term. By 3 pm in London on Thursday, 2.2 % for trade has gained at $ 1.108.
“Net -Nt FX is chasing the balance of the real return that indicates that the euro/USD to 1.11 or actually 1.12. We have the end of the year but at this pace will come next week,” Rothscheter said in a note on Thursday.
However, he added that there was “an end to the sale of the US dollar at some point”, expecting that euro could start selling if via a $ 1.11 threshold by Friday.
pharmaceutical
Flags with the slogans of the Danish pharmaceutical maker, NOVO Nordisk, the diabetes maker and the OzemPic and Wegov weightmaker are pictures while the company provides the annual report at Novo Nordisk in Bagsvaerd, Denmark, on February 5, 2025.
Mads Claus Rasmussen | AFP | Gety pictures
The Medicines and Biotechnology Index in Europe was 0.47 % less on Thursday, with British players GSK and Astrazeneca Get 2.2 % and 1 %, respectively. The Danish giant Novo Nordsek decreased 2 %.
Facilities
Facility shares in Europe led on Thursday gains, and a wider sale was challenged as investors’ reaction to the Trump tariff was.
Facilities shares, which are traditionally defensive in times of turmoil in the market, jumped over 3 % on Thursday. It is based in France Iberdrola of Engie, Engie and Spain were among the best sector artists, both of whom rose by more than 2 %, with the last increase for 52 weeks.
