29 August
EU faces mounting pressure from US tariffs — Bloomberg
Bloomberg analysts warn that escalating US import tariffs could push the European Union toward recession. Proposed 30% duties on EU goods would further strain bloc economies already struggling with France's growing budget deficit, China's rising exports, and Germany's economic stagnation.
The EU has prepared $84 billion in retaliatory tariffs on US products, but analysts consider this response insufficient. Bloomberg criticizes the bloc's indecisive strategy, pointing to its ineffective tariffs on Chinese electric vehicles and stalled trade agreements. The European Central Bank's monetary policy has also drawn recent criticism from France's Prime Minister Francois Bayrou.
While Germany's reforms and Greece's economic recovery offer some hope for growth, Wall Street leaders warn the EU continues losing ground in the global economic competition.
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