The EU as a whole is walking a tightrope. Its largest economies still depend heavily on the US market. If the current US regime perceives that US companies are being targeted by EU "taxes", regardless of whether those laws are legitimate, there is a real danger of US retaliation.
Key sectors could take the hit, including automotive manufacturing, industrial equipment, chemicals, electronics, fashion, textiles, and luxury food and wine.
Given that these nations are already managing high debt loads while funding generous social welfare programs and expanding their defense budgets, trade sanctions could cause serious damage...
So yeah...EU is performing a delicate balancing act here.
Key sectors could take the hit, including automotive manufacturing, industrial equipment, chemicals, electronics, fashion, textiles, and luxury food and wine.
Given that these nations are already managing high debt loads while funding generous social welfare programs and expanding their defense budgets, trade sanctions could cause serious damage...
So yeah...EU is performing a delicate balancing act here.