Danish Industry on Trump: Trade tension heightens

On Wednesday, President Trump reiterated threats to impose tariffs on goods imported into the US from the EU. He indicated tariffs could generally be 25 percent, with some exceptions. Lukas A. Lausen from Danish Industry (DI) expressed concern, noting the US government’s intent to escalate the trade conflict initiated by Trump. However, he also mentioned the vagueness and possible loopholes allowing for negotiations to moderate the proposal. DI is advising its member companies to prepare for uncertainty by understanding US government signals. Some companies are building up stock in the US, considering relocating production, while others are looking towards more stable markets. Trump accused the EU of trade malpractice, a claim not recognized in Brussels. An unnamed EU Commission source stated the EU has been beneficial for the US and promised a firm and quick response to any new US tariffs.