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On the 18th, Carsten Brzeski, the head of macro research at ING, highlighted that the latest trade data underscores the impact of the United States' high tariff policy on European exports. Eurostat's data released on the same day illuminated the export landscape in Europe subsequent to the initial wave of US tariff shocks. Early this year, European industrial data experienced significant fluctuations, primarily driven by companies' rush to export to the United States before the tariffs came into effect, followed by a decline in export volumes due to the high tariffs once they were implemented. Brzeski posits that factors such as the euro's appreciation, US tariff measures, uncertainty surrounding the future of global trade, and intense competition faced by European exporters may persist in adversely affecting European exports.
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