Business
The US tariff shock in 2025 vs 2026 – same negative impact, different drivers
April 8, 2026
ING Think
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EUROPE: The US tariff shock of 2025 was historic, but its impact on Europe was partly cushioned as tariffs on rival suppliers rose, keeping Europe’s US market position broadly intact. Even so, exports fell amid higher tariffs and uncertainty. With tariffs converging to 15 in 2026 for most partners, Europe’s competitiveness is set to deteriorate
ING Think
Coverage and analysis from Netherlands. All insights are generated by our AI narrative analysis engine.
Netherlands
Bias: center