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G Sachs Estimates Trump's Greenland Tariffs to Impact Eurozone Econ by 0.1%, Germany to Bear Brunt
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US President Donald Trump has threatened to raise tariffs by 10% from next month on eight NATO members, including Eurozone countries Germany, France, Finland, and the Netherlands, over the Greenland issue, according to a Bloomberg report. Goldman Sachs has released a report estimating that the Greenland tariffs will have a 0.1% negative impact on the Eurozone economy, and the affected countries will experience a 0.1-0.2% economic impact due to reduced trade. Specifically, Germany is expected to bear the brunt, as its economy will decrease by 0.2% under incremental tariffs and by 0.3% under sweeping tariffs. However, it is worth noting that Goldman Sachs' estimates didn't account for impacts on financial markets. AAStocks Financial News |
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